Satellogic Inc. (NASDAQ:SATL – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.64, but opened at $4.88. Satellogic shares last traded at $4.9250, with a volume of 603,927 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, Satellogic presently has an average rating of “Moderate Buy” and an average price target of $8.90.
Read Our Latest Stock Report 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 for the quarter, compared to analyst estimates of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. Equities analysts anticipate that Satellogic Inc. will post -0.02 EPS for the current fiscal year.
Institutional Trading of Satellogic
Several large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in shares of Satellogic during the 4th quarter worth approximately $16,830,000. Weiss Asset Management LP purchased a new stake in Satellogic in the 4th quarter valued at approximately $4,053,000. Cantor Fitzgerald L. P. grew its holdings in Satellogic by 16.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after buying an additional 1,863,696 shares during the last quarter. Tema ETFs LLC acquired a new stake in Satellogic during the 2nd quarter valued at $8,640,000. Finally, Renaissance Technologies LLC purchased a new position in Satellogic during the first quarter worth $6,463,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.
About Satellogic
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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