Freedom Capital Upgrades Satellogic (NASDAQ:SATL) to Strong-Buy

Satellogic (NASDAQ:SATL) was upgraded by analysts at Freedom Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

SATL has been the topic of a number of other research reports. Cantor Fitzgerald set a $7.00 target price on Satellogic in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Craig Hallum began coverage on shares of Satellogic in a report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 target price for the company. Northland Securities initiated coverage on shares of Satellogic in a report on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price target on the stock. Finally, Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Satellogic has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Trading Down 1.2%

Shares of SATL traded down $0.04 on Wednesday, reaching $2.97. The company’s stock had a trading volume of 1,662,534 shares, compared to its average volume of 9,410,520. Satellogic has a twelve month low of $1.25 and a twelve month high of $5.93. The stock has a market capitalization of $401.67 million, a PE ratio of -12.44 and a beta of 1.45. The firm has a fifty day moving average of $3.47 and a 200-day moving average of $2.88.

Insiders Place Their Bets

In other Satellogic news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total value of $2,189,096.01. Following the completion of the sale, the insider directly owned 12,862,075 shares of the company’s stock, valued at $72,413,482.25. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 524,373 shares of company stock worth $2,942,676 over the last three months. 51.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in Satellogic by 223,650.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock worth $519,000 after purchasing an additional 277,326 shares during the period. Invesco Ltd. grew its stake in Satellogic by 14.0% in the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after buying an additional 5,723 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Satellogic during the fourth quarter worth $294,000. Millennium Management LLC purchased a new stake in shares of Satellogic during the fourth quarter worth $2,172,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Satellogic by 227.7% in the fourth quarter. AQR Capital Management LLC now owns 153,458 shares of the company’s stock worth $287,000 after acquiring an additional 106,626 shares during the period. 17.58% of the stock is currently 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.