Satellogic (NASDAQ:SATL) Trading Up 14.1% – What’s Next?

Satellogic Inc. (NASDAQ:SATL)’s stock price shot up 14.1% during trading on Thursday . The stock traded as high as $4.28 and last traded at $4.0950. 7,090,809 shares were traded during trading, a decline of 33% from the average session volume of 10,519,286 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SATL shares. Craig Hallum started coverage on shares of Satellogic in a research note on Wednesday. They issued a “buy” rating and a $5.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic has a consensus rating of “Hold” and an average target price of $5.00.

Satellogic Price Performance

The stock has a market cap of $617.74 million, a price-to-earnings ratio of -19.00 and a beta of 1.36. The business has a fifty day moving average of $2.14 and a 200 day moving average of $2.84.

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 Investors Weigh In On Satellogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in SATL. Ameritas Investment Partners Inc. acquired a new stake in shares of Satellogic in the second quarter worth $25,000. BNP Paribas Financial Markets boosted its holdings in Satellogic by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after purchasing an additional 7,052 shares during the period. Legal & General Group Plc acquired a new stake in Satellogic in the 2nd quarter worth $27,000. Farther Finance Advisors LLC bought a new position in shares of Satellogic during the 3rd quarter worth about $26,000. Finally, LMR Partners LLP bought a new position in shares of Satellogic during the 2nd quarter worth about $30,000. 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.