Satellogic (NASDAQ:SATL) Upgraded by Freedom Capital to Strong-Buy Rating

Satellogic (NASDAQ:SATLGet Free Report) was upgraded by equities research analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on SATL. Northland Securities set a $11.00 price objective on Satellogic in a research note on Thursday, May 28th. Roth Mkm lifted their target price on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup reissued an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Loop Capital set a $4.50 price target on Satellogic in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Satellogic currently has an average rating of “Moderate Buy” and an average price target of $9.10.

Read Our Latest Stock Report on Satellogic

Satellogic Stock Performance

Shares of NASDAQ:SATL opened at $5.72 on Monday. The firm has a fifty day simple moving average of $7.44 and a two-hundred day simple moving average of $5.11. Satellogic has a 52 week low of $1.25 and a 52 week high of $12.00. 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 $847.93 million, a P/E ratio of -7.63 and a beta of 1.19.

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

Insider Buying and Selling

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction 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 approximately $399,004.75. The trade was a 64.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 38.84% of the company’s stock.

Institutional Trading of Satellogic

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after buying an additional 825,121 shares during the period. JPMorgan Chase & Co. purchased a new stake in Satellogic in the 2nd quarter valued at about $118,000. Legal & General Group Plc bought a new position in Satellogic in the 2nd quarter worth about $27,000. Rhumbline Advisers bought a new position in Satellogic in the 2nd quarter worth about $351,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Satellogic during the second quarter worth approximately $97,000. 17.58% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Satellogic (NASDAQ:SATL)

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