Satellogic Inc. (NASDAQ:SATL) Given Average Recommendation of “Buy” by Brokerages

Shares of Satellogic Inc. (NASDAQ:SATL) have received a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.10.

SATL has been the topic of several analyst reports. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday. Northland Securities set a $11.00 price target on shares of Satellogic in a report on Thursday, May 28th. Citigroup restated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Roth Capital lifted their price objective on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research note on Monday, June 15th.

Insider Transactions at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total value of $97,700,000.00. Following the transaction, the director owned 10,000,000 shares in the company, valued at approximately $97,700,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Alan Kharsansky sold 87,091 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the sale, the chief technology officer directly owned 47,785 shares in the company, valued at $399,004.75. This trade represents a 64.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 38.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Satellogic

Several hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in shares of Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after acquiring an additional 3,561 shares during the period. Invesco Ltd. boosted its stake in Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after purchasing an additional 5,723 shares during the period. BNP Paribas Financial Markets grew its position in Satellogic by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after purchasing an additional 7,052 shares during the last quarter. Legal & General Group Plc purchased a new position in Satellogic during the 2nd quarter worth $27,000. Finally, LMR Partners LLP acquired a new position in Satellogic in the second quarter valued at $30,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Stock Down 5.8%

Shares of NASDAQ SATL opened at $3.59 on Tuesday. The firm has a market cap of $532.18 million, a price-to-earnings ratio of -4.79 and a beta of 1.26. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. Satellogic has a 52-week low of $1.25 and a 52-week high of $12.00. The business’s 50 day moving average is $6.41 and its two-hundred day moving average is $5.39.

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

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.