Satellogic (NASDAQ:SATL) Stock Price Up 20.4% – Time to Buy?

Satellogic Inc. (NASDAQ:SATL) shares shot up 20.4% during mid-day trading on Monday . The stock traded as high as $4.12 and last traded at $4.3240. 3,183,720 shares were traded during trading, a decline of 65% from the average session volume of 9,104,082 shares. The stock had previously closed at $3.59.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SATL shares. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a research report on Saturday. Loop Capital set a $4.50 price objective on Satellogic in a research note on Wednesday, March 11th. Northland Securities started coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Finally, Craig Hallum assumed coverage on Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Stock Up 19.9%

The company has a current ratio of 5.12, a quick ratio of 5.02 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $3.55 and a 200-day moving average price of $2.85. The stock has a market cap of $583.20 million, a PE ratio of -17.28 and a beta of 1.46.

Satellogic (NASDAQ:SATL) last announced its earnings results on Thursday, March 19th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The business had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Transactions at Satellogic

In other Satellogic news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $5.55, for a total transaction of $30,941.25. Following the completion of the transaction, the insider owned 12,856,500 shares of the company’s stock, valued at $71,353,575. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 524,373 shares of company stock valued at $2,942,676. 51.62% of the stock is currently owned by insiders.

Institutional Trading of Satellogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in shares of Satellogic during the second quarter worth $51,000. Geode Capital Management LLC boosted its holdings in Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after acquiring an additional 825,121 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Satellogic during the 2nd quarter valued at about $58,000. Intech Investment Management LLC acquired a new stake in Satellogic during the 2nd quarter worth approximately $120,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Satellogic during the 2nd quarter worth $118,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.