Satellogic (NASDAQ:SATL) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Satellogic Inc. (NASDAQ:SATL) saw strong trading volume on Friday following a stronger than expected earnings report. 9,705,353 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 9,049,166 shares.The stock last traded at $4.0250 and had previously closed at $3.28.

The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $6.25 million for the quarter, compared to the consensus estimate of $3.83 million.

Wall Street Analysts Forecast Growth

SATL has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Cantor Fitzgerald set a $7.00 target price on shares of Satellogic in a report on Friday, February 20th. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Freedom Capital raised shares of Satellogic to a “strong-buy” rating in a report on Wednesday, March 11th. Finally, Craig Hallum began coverage on shares of Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Insider Buying and Selling at Satellogic

In related news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $5.55, for a total value of $30,941.25. Following the sale, the insider directly owned 12,856,500 shares of the company’s stock, valued at $71,353,575. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 524,373 shares of company stock worth $2,942,676. 51.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. acquired a new stake in shares of Satellogic in the 2nd quarter valued at approximately $25,000. Abel Hall LLC bought a new stake in shares of Satellogic during the 4th quarter valued at approximately $25,000. StoneX Group Inc. acquired a new position in Satellogic during the 4th quarter worth approximately $25,000. Neuberger Berman Group LLC acquired a new position in Satellogic during the 4th quarter worth approximately $25,000. Finally, Farther Finance Advisors LLC bought a new position in Satellogic in the 3rd quarter valued at approximately $26,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Price Performance

The stock has a market cap of $535.92 million, a price-to-earnings ratio of -16.38 and a beta of 1.45. The business’s 50-day simple moving average is $3.53 and its two-hundred day simple moving average is $2.86.

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.