Satellogic (NASDAQ:SATL) Shares Up 12.1% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) traded up 12.1% during mid-day trading on Thursday . The stock traded as high as $7.12 and last traded at $7.04. 1,537,590 shares were traded during mid-day trading, a decline of 85% from the average session volume of 10,507,335 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald upped their price target on shares of Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Freedom Capital downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Loop Capital set a $4.50 price target on shares of Satellogic in a report on Wednesday, March 11th. Finally, Roth Mkm upped their price target on shares of Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Stock Up 14.3%

The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.06 billion, a PE ratio of -9.56 and a beta of 1.19. The firm’s 50 day moving average is $7.73 and its 200-day moving average is $4.70.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. The firm had revenue of $6.11 million for the quarter. As a group, equities research analysts expect that Satellogic Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the transaction, the director owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the transaction, the insider directly owned 12,356,500 shares of the company’s stock, valued at $61,906,065. This trade represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 10,587,091 shares of company stock valued at $100,932,210. Insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several large investors have recently made changes to their positions in SATL. Geode Capital Management LLC increased its position in shares of Satellogic by 1,671.4% in the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after acquiring an additional 825,121 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Satellogic in the second quarter worth $118,000. Legal & General Group Plc acquired a new stake in shares of Satellogic in the second quarter worth $27,000. Rhumbline Advisers acquired a new stake in shares of Satellogic in the second quarter worth $351,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Satellogic in the second quarter worth $97,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.