Satellogic (NASDAQ:SATL) Sets New 12-Month High – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $6.64 and last traded at $6.4430, with a volume of 10338108 shares changing hands. The stock had previously closed at $5.38.

Wall Street Analyst Weigh In

SATL has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Northland Securities assumed coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price on the stock. Craig Hallum assumed coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. Loop Capital set a $4.50 price target on shares of Satellogic in a report on Wednesday, March 11th. Finally, Freedom Capital raised shares of Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Satellogic has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Trading Up 16.9%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The firm has a market capitalization of $851.70 million, a price-to-earnings ratio of -25.15 and a beta of 1.45. The business has a fifty day moving average price of $3.61 and a 200 day moving average price of $2.87.

Satellogic (NASDAQ:SATL) last issued its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The firm had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Buying and Selling at Satellogic

In other news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the completion of the sale, the insider owned 12,862,075 shares in the company, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 524,373 shares of company stock valued at $2,942,676. Insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Halter Ferguson Financial Inc. purchased a new stake in Satellogic during the third quarter worth approximately $1,276,000. Intech Investment Management LLC purchased a new position in shares of Satellogic in the 2nd quarter valued at $120,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Satellogic in the 2nd quarter valued at $84,000. Ameritas Investment Partners Inc. acquired a new position in shares of Satellogic during the 2nd quarter valued at $25,000. Finally, ProShare Advisors LLC acquired a new position in shares of Satellogic during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.