Satellogic Inc. (NASDAQ:SATL – Get Free Report)’s stock price dropped 5.7% during mid-day trading on Tuesday. The stock traded as low as $5.82 and last traded at $5.7050. 1,761,367 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,734,045 shares. The stock had previously closed at $6.05.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SATL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.90.
Read Our Latest Stock Analysis on Satellogic
Satellogic Stock Performance
Satellogic (NASDAQ:SATL – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. As a group, equities research analysts predict that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Satellogic
Several institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC raised its stake in Satellogic by 30.2% in 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 in the last quarter. Allworth Financial LP boosted its holdings in Satellogic by 69.4% in the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock valued at $36,000 after purchasing an additional 2,545 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Satellogic during the 2nd quarter worth approximately $46,000. Krilogy Financial LLC acquired a new position in shares of Satellogic during the 1st quarter worth approximately $60,000. Finally, Commonwealth Financial Services LLC bought a new position in shares of Satellogic during the first quarter worth approximately $82,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.
About Satellogic
Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.
Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.
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