Satellogic (NASDAQ:SATL) Reaches New 52-Week High – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.19 and last traded at $9.0510, with a volume of 2416749 shares trading hands. The stock had previously closed at $9.84.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SATL shares. Citigroup reissued an “outperform” rating on shares of Satellogic in a research note on Wednesday. Zacks Research raised shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Loop Capital set a $4.50 target price on shares of Satellogic in a research note on Wednesday, March 11th. Craig Hallum started coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price for the company. Finally, Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Satellogic currently has an average rating of “Moderate Buy” and an average target price of $7.70.

Satellogic Trading Down 8.7%

The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.28 billion, a P/E ratio of -11.90 and a beta of 1.06. The firm’s 50 day simple moving average is $5.96 and its two-hundred day simple moving average is $3.78.

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

Insiders Place Their Bets

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the sale, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently made changes to their positions in SATL. Geode Capital Management LLC increased its position in shares of Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after acquiring an additional 825,121 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Satellogic during the second quarter worth about $118,000. Legal & General Group Plc bought a new stake in shares of Satellogic during the second quarter worth about $27,000. Rhumbline Advisers bought a new stake in shares of Satellogic during the second quarter worth about $351,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Satellogic during the second quarter worth about $97,000. 17.58% of the stock is 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.