Freedom Capital Upgrades Satellogic (NASDAQ:SATL) to “Strong-Buy”

Satellogic (NASDAQ:SATL) was upgraded by equities research analysts at Freedom Capital to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

SATL has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Craig Hallum initiated coverage on Satellogic in a report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 target price for the company. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Northland Securities started coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Satellogic has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Trading Down 3.5%

SATL stock opened at $3.00 on Wednesday. The firm has a 50-day moving average of $3.47 and a two-hundred day moving average of $2.88. Satellogic has a 12 month low of $1.25 and a 12 month high of $5.93. The company has a market cap of $406.41 million, a price-to-earnings ratio of -12.50 and a beta of 1.45.

Insiders Place Their Bets

In other Satellogic news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the completion of the transaction, the insider owned 12,862,075 shares of the company’s stock, valued at $72,413,482.25. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 524,373 shares of company stock worth $2,942,676 over the last ninety days. Company insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Satellogic in the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new position in Satellogic in the second quarter valued at $27,000. Farther Finance Advisors LLC acquired a new stake in Satellogic in the 3rd quarter valued at about $26,000. LMR Partners LLP purchased a new stake in shares of Satellogic during the second quarter worth approximately $30,000. Finally, Squarepoint Ops LLC purchased a new position in Satellogic in the third quarter worth approximately $33,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.