Satellogic (NASDAQ:SATL) Shares Gap Down – What’s Next?

Satellogic Inc. (NASDAQ:SATL) gapped down before the market opened on Monday . The stock had previously closed at $5.25, but opened at $5.01. Satellogic shares last traded at $4.3850, with a volume of 4,123,722 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday. Craig Hallum initiated coverage on shares of Satellogic in a report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Satellogic Price Performance

The stock has a market cap of $622.47 million, a PE ratio of -19.02 and a beta of 1.36. The firm’s 50 day moving average price is $2.27 and its two-hundred day moving average price is $2.86.

Satellogic (NASDAQ:SATL) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $3.63 million for the quarter.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Satellogic in the second quarter worth about $25,000. Legal & General Group Plc purchased a new position in Satellogic during the second quarter valued at approximately $27,000. Farther Finance Advisors LLC bought a new stake in Satellogic during the 3rd quarter worth approximately $26,000. LMR Partners LLP purchased a new stake in Satellogic in the 2nd quarter worth approximately $30,000. Finally, Squarepoint Ops LLC bought a new position in Satellogic in the 3rd quarter valued at $33,000. 17.58% of the stock is currently owned by institutional investors.

About Satellogic

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.