Satellogic (NASDAQ:SATL) Stock Price Up 5.5% – What’s Next?

Satellogic Inc. (NASDAQ:SATL) shot up 5.5% on Friday . The company traded as high as $3.76 and last traded at $3.7650. 2,279,322 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 10,030,604 shares. The stock had previously closed at $3.57.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SATL. Roth Capital upped their target price on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Wall Street Zen raised Satellogic from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Northland Securities set a $11.00 price objective on Satellogic in a research note on Thursday, May 28th. Finally, Zacks Research raised Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.10.

Satellogic Stock Up 7.0%

The stock’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $5.33. The stock has a market capitalization of $566.28 million, a P/E ratio of -5.09 and a beta of 1.26. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93.

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

Insiders Place Their Bets

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director owned 10,000,000 shares of the company’s stock, valued at $97,700,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at $399,004.75. The trade was a 64.57% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abel Hall LLC purchased a new stake in Satellogic during the fourth quarter valued at about $25,000. StoneX Group Inc. purchased a new position in shares of Satellogic in the fourth quarter worth about $25,000. Neuberger Berman Group LLC purchased a new position in shares of Satellogic in the fourth quarter worth about $25,000. Legal & General Group Plc bought a new stake in shares of Satellogic in the second quarter valued at approximately $27,000. Finally, ProShare Advisors LLC raised its position in shares of Satellogic by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after purchasing an additional 3,561 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.