Satellogic (NASDAQ:SATL) Shares Up 6.7% – Here’s Why

Shares of Satellogic Inc. (NASDAQ:SATL) traded up 6.7% on Friday . The company traded as high as $3.74 and last traded at $3.7250. 4,796,875 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 9,762,562 shares. The stock had previously closed at $3.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Satellogic currently has an average rating of “Sell”.

Satellogic Stock Performance

The firm has a fifty day simple moving average of $2.02 and a two-hundred day simple moving average of $2.84. The firm has a market cap of $482.27 million, a PE ratio of -14.83 and a beta of 1.36.

Satellogic (NASDAQ:SATL) last posted its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $3.63 million for the quarter.

Institutional Trading of Satellogic

Several hedge funds have recently made changes to their positions in SATL. Ameritas Investment Partners Inc. bought a new position in shares of Satellogic in the 2nd quarter valued at about $25,000. Legal & General Group Plc bought a new stake in shares of Satellogic in the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC purchased a new position in shares of Satellogic in the 3rd quarter worth approximately $26,000. LMR Partners LLP bought a new position in shares of Satellogic during the 2nd quarter valued at approximately $30,000. Finally, Squarepoint Ops LLC purchased a new stake in Satellogic during the 3rd quarter valued at $33,000. 17.58% of the stock is currently owned by hedge funds and other 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.