Satellogic (NASDAQ:SATL) Sets New 1-Year High – Here’s Why

Shares of Satellogic Inc. (NASDAQ:SATL) hit a new 52-week high on Thursday . The company traded as high as $5.79 and last traded at $5.37, with a volume of 17974369 shares changing hands. The stock had previously closed at $5.50.

Analyst Ratings Changes

Several research firms recently weighed in on SATL. Craig Hallum initiated coverage on Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.00.

Satellogic Price Performance

The company has a market cap of $727.47 million, a PE ratio of -22.38 and a beta of 1.36. The company’s fifty day moving average price is $2.50 and its 200 day moving average price is $2.90.

Satellogic (NASDAQ:SATL) last announced its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $3.63 million during the quarter.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Satellogic by 44.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after buying an additional 1,002,400 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after purchasing an additional 825,121 shares in the last quarter. Halter Ferguson Financial Inc. bought a new position in Satellogic during the 3rd quarter valued at approximately $1,276,000. Penserra Capital Management LLC grew its stake in shares of Satellogic by 8.7% in the third quarter. Penserra Capital Management LLC now owns 114,184 shares of the company’s stock worth $374,000 after acquiring an additional 9,111 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in Satellogic during the 2nd quarter valued at about $351,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Company Profile

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.