Satellogic (NASDAQ:SATL) Sets New 12-Month High – Here’s Why

Satellogic Inc. (NASDAQ:SATL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.35 and last traded at $7.3690, with a volume of 9386205 shares trading hands. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Freedom Capital raised Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Loop Capital set a $4.50 target price on shares of Satellogic in a research report on Wednesday, March 11th. Finally, Northland Securities began coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Stock Down 3.1%

The stock has a market cap of $999.27 million, a price-to-earnings ratio of -28.00 and a beta of 0.99. The stock has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $3.31. The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93.

Satellogic (NASDAQ:SATL) last issued its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $6.25 million for 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%. As a group, analysts expect that Satellogic Inc. will post -0.17 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 dated Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the completion of the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,024,373 shares of company stock valued at $5,447,676. 51.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Satellogic in the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC bought a new position in Satellogic during the third quarter valued at approximately $26,000. LMR Partners LLP purchased a new position in shares of Satellogic during the second quarter worth approximately $30,000. Squarepoint Ops LLC bought a new stake in shares of Satellogic in the 3rd quarter worth approximately $33,000. Finally, Krilogy Financial LLC bought a new stake in shares of Satellogic in the 1st quarter worth approximately $60,000. 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.