Satellogic Inc. (NASDAQ:SATL – Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $11.68 and last traded at $11.55, with a volume of 2175187 shares changing hands. The stock had previously closed at $10.61.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SATL. Freedom Capital lowered shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Citigroup reiterated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Cantor Fitzgerald raised their target price on shares of Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised shares of Satellogic to a “hold” rating in a research report on Thursday, February 19th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.10.
Get Our Latest Stock Report on Satellogic
Satellogic Stock Up 1.7%
Satellogic (NASDAQ:SATL – Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($0.84) EPS for the quarter. The business had revenue of $6.11 million for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. As a group, equities research analysts expect that Satellogic Inc. will post -0.11 earnings per share for the current year.
Insider Buying and Selling
In other news, CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at $399,004.75. The trade was a 64.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction that occurred on 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 directly 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 SEC filing for this sale provides additional information. 51.62% of the stock is owned by insiders.
Institutional Trading of Satellogic
Several large investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its position in Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after purchasing an additional 3,561 shares during the last quarter. Invesco Ltd. grew its position in Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after purchasing an additional 5,723 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after buying an additional 7,052 shares during the last quarter. Legal & General Group Plc purchased a new stake in Satellogic in the second quarter valued at approximately $27,000. Finally, LMR Partners LLP purchased a new stake in Satellogic in the second quarter valued at approximately $30,000. 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.
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