Satellogic (NASDAQ:SATL) Trading 6.1% Higher – What’s Next?

Satellogic Inc. (NASDAQ:SATL)’s share price rose 6.1% during trading on Tuesday . The stock traded as high as $5.01 and last traded at $5.1470. Approximately 1,461,599 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 8,867,500 shares. The stock had previously closed at $4.85.

Wall Street Analyst Weigh In

SATL has been the topic of several analyst reports. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Roth Capital restated a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Northland Securities set a $11.00 price objective on shares of Satellogic in a report on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

The business has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $5.74. The stock has a market cap of $781.61 million, a PE ratio of -6.19 and a beta of 1.36. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. Research analysts expect that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in shares of Satellogic during the 2nd quarter valued at approximately $11,613,000. Tema ETFs LLC bought a new stake in shares of Satellogic in the 2nd quarter worth approximately $8,640,000. Renaissance Technologies LLC bought a new stake in shares of Satellogic in the 1st quarter worth approximately $6,463,000. Royal Bank of Canada raised its holdings in shares of Satellogic by 4,052.9% in the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares during the period. Finally, Sei Investments Co. purchased a new position in Satellogic in the first quarter valued at approximately $1,607,000. 17.58% of the stock is currently owned by institutional investors.

About Satellogic

Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.