Satellogic (NASDAQ:SATL) Shares Gap Up – Time to Buy?

Satellogic Inc. (NASDAQ:SATLGet Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.62, but opened at $5.06. Satellogic shares last traded at $5.0590, with a volume of 1,833,729 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on SATL. Loop Capital set a $4.50 price target on Satellogic in a report on Wednesday, March 11th. Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday. Freedom Capital downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Roth Mkm upped their target price on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Satellogic has an average rating of “Moderate Buy” and an average target price of $9.10.

Check Out Our Latest Stock Report on SATL

Satellogic Trading Up 13.7%

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The company has a market capitalization of $779.00 million, a P/E ratio of -7.03 and a beta of 1.19. The firm has a fifty day moving average price of $7.50 and a 200-day moving average price of $5.06.

Satellogic (NASDAQ:SATLGet Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%.The business had revenue of $6.11 million during the quarter. On average, equities research analysts anticipate that Satellogic Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $8.35, for a total transaction of $727,209.85. Following the completion of the transaction, the chief technology officer directly owned 47,785 shares in the company, valued at $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 38.84% of the company’s stock.

Institutional Trading of Satellogic

Several hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its stake in Satellogic by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after acquiring an additional 3,561 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Satellogic by 14.0% in 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 period. BNP Paribas Financial Markets raised its holdings in shares of Satellogic by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after purchasing an additional 7,052 shares during the period. Legal & General Group Plc bought a new stake in shares of Satellogic in the 2nd quarter worth approximately $27,000. Finally, LMR Partners LLP purchased a new position in Satellogic in the second quarter valued at approximately $30,000. Institutional investors own 17.58% of the company’s stock.

Satellogic Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Satellogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Satellogic and related companies with MarketBeat.com's FREE daily email newsletter.