Satellogic (NASDAQ:SATL) Stock Jumps 6.2% – Should You Buy?

Satellogic Inc. (NASDAQ:SATL)’s share price was up 6.2% on Wednesday. The company traded as high as $5.99 and last traded at $5.9480. 1,049,061 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,713,035 shares. The stock had previously closed at $5.60.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research report on Monday, September 21st. Finally, Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Satellogic presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Stock Up 3.8%

The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The company has a market capitalization of $894.00 million, a PE ratio of -7.07 and a beta of 1.36. The business’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $5.92.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. As a group, analysts anticipate that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Several large investors have recently modified their holdings of SATL. Tidal Investments LLC acquired a new stake in shares of Satellogic during the second quarter valued at about $11,613,000. Tema ETFs LLC acquired a new position in shares of Satellogic in the 2nd quarter worth approximately $8,640,000. Renaissance Technologies LLC acquired a new position in shares of Satellogic in the 1st quarter worth approximately $6,463,000. Royal Bank of Canada boosted its position in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Satellogic during the 1st quarter worth approximately $1,607,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

About Satellogic

Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.