Satellogic (NASDAQ:SATL) Shares Gap Up – Still a Buy?

Satellogic Inc. (NASDAQ:SATL) gapped up before the market opened on Tuesday . The stock had previously closed at $4.58, but opened at $4.98. Satellogic shares last traded at $4.8050, with a volume of 6,336,140 shares traded.

Analyst Upgrades and Downgrades

SATL has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Craig Hallum assumed coverage on shares of Satellogic in a research report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Satellogic has an average rating of “Hold” and an average target price of $5.00.

Satellogic Stock Down 2.4%

The stock’s 50 day moving average is $2.58 and its two-hundred day moving average is $2.92. The company has a market capitalization of $709.86 million, a PE ratio of -21.83 and a beta of 1.36.

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

Institutional Trading of Satellogic

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Satellogic by 44.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after acquiring an additional 1,002,400 shares during the period. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 825,121 shares in the last quarter. Halter Ferguson Financial Inc. purchased a new stake in shares of Satellogic during the third quarter valued at about $1,276,000. Penserra Capital Management LLC bought a new stake in shares of Satellogic in the 2nd quarter valued at about $380,000. Finally, Rhumbline Advisers acquired a new stake in Satellogic in the second quarter valued at approximately $351,000. Hedge funds and other institutional investors 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.