Satellogic (NASDAQ:SATL) Now Covered by Northland Securities

Equities research analysts at Northland Securities assumed coverage on shares of Satellogic (NASDAQ:SATL) in a report issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $5.50 price target on the stock. Northland Securities’ price target would suggest a potential upside of 91.64% from the company’s current price.

Several other research analysts have also recently weighed in on SATL. Craig Hallum started coverage on Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.25.

Satellogic Trading Down 8.6%

Shares of Satellogic stock opened at $2.87 on Wednesday. The business’s 50 day simple moving average is $3.06 and its 200-day simple moving average is $2.91. Satellogic has a twelve month low of $1.25 and a twelve month high of $5.93. The stock has a market capitalization of $388.80 million, a price-to-earnings ratio of -11.96 and a beta of 1.39.

Insider Transactions at Satellogic

In related news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $5.63, for a total value of $2,189,096.01. Following the sale, the insider directly owned 12,862,075 shares of the company’s stock, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 524,373 shares of company stock worth $2,942,676 in the last ninety days. 51.62% of the stock is currently owned by insiders.

Institutional Trading of Satellogic

Several hedge funds have recently added to or reduced their stakes in SATL. Cantor Fitzgerald L. P. increased its holdings in Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after buying an additional 1,863,696 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Satellogic during the 4th quarter worth approximately $16,830,000. Vanguard Group Inc. increased its stake in shares of Satellogic by 44.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after purchasing an additional 1,002,400 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of Satellogic in the 4th quarter worth approximately $4,053,000. Finally, Geode Capital Management LLC lifted its stake in Satellogic by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock valued at $3,381,000 after purchasing an additional 463,811 shares during the last quarter. 17.58% of the stock is owned by institutional investors and hedge funds.

Satellogic Company Profile

Satellogic Inc is a NewSpace company specializing in the design, manufacture and operation of a low?Earth?orbit (LEO) microsatellite constellation. The company’s satellites capture high?resolution multispectral imagery, enabling detailed monitoring of agricultural, forestry, maritime, energy and infrastructure assets. Satellogic’s vertically integrated model covers end?to?end capabilities, from satellite development and deployment to data processing and analytics, allowing clients to access imagery and insights on demand.

Key offerings include geospatial data products, analytics services and software tools that leverage machine learning algorithms to interpret changes on Earth’s surface.