Satellogic (NASDAQ:SATL) Trading 8.3% Higher – Still a Buy?

Satellogic Inc. (NASDAQ:SATLGet Free Report)’s stock price rose 8.3% during mid-day trading on Monday . The company traded as high as $5.50 and last traded at $5.5350. Approximately 1,814,753 shares traded hands during trading, a decline of 79% from the average session volume of 8,832,149 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Roth Capital restated a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a report on Monday. Zacks Research lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Read Our Latest Stock Analysis on SATL

Satellogic Stock Up 9.3%

The business’s 50-day moving average price is $4.72 and its 200-day moving average price is $5.79. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $858.64 million, a PE ratio of -6.81 and a beta of 1.36.

Satellogic (NASDAQ:SATLGet Free Report) last announced its quarterly earnings data 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). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%.The firm had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. As a group, equities research analysts predict that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares during the last quarter. Sei Investments Co. bought a new stake in Satellogic in the first quarter worth $1,607,000. Bank of New York Mellon Corp acquired a new position in Satellogic during the second quarter worth $1,278,000. Renaissance Technologies LLC acquired a new position in Satellogic during the first quarter worth $6,463,000. Finally, Tema ETFs LLC bought a new position in Satellogic during the second quarter valued at about $8,640,000. Institutional investors own 17.58% of the company’s stock.

About Satellogic

(Get Free Report)

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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