Satellogic (NASDAQ:SATL) Hits New 12-Month High – What’s Next?

Satellogic Inc. (NASDAQ:SATL) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $5.79 and last traded at $5.37, with a volume of 17974369 shares. The stock had previously closed at $5.50.

Wall Street Analysts Forecast Growth

SATL has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Craig Hallum began coverage on Satellogic in a report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target for the company. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Satellogic has a consensus rating of “Hold” and an average price target of $5.00.

Satellogic Stock Down 2.4%

The company has a market cap of $727.47 million, a P/E ratio of -22.38 and a beta of 1.36. The business has a 50-day moving average price of $2.50 and a two-hundred day moving average price of $2.90.

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

Institutional Investors Weigh In On Satellogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in SATL. Ameritas Investment Partners Inc. bought a new stake in shares of Satellogic in the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets grew its stake in shares of Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after acquiring an additional 7,052 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Satellogic during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC acquired a new stake in Satellogic during the third quarter worth approximately $26,000. Finally, LMR Partners LLP acquired a new stake in shares of Satellogic during the 2nd quarter worth $30,000. 17.58% of the stock is owned by institutional investors.

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.