Satellogic (NASDAQ:SATL) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Satellogic (NASDAQ:SATL) from a sell rating to a hold rating in a research note released on Saturday morning.

Other research analysts also recently issued reports about the company. Northland Securities assumed coverage on Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price objective for the company. Loop Capital set a $4.50 price target on shares of Satellogic in a report on Wednesday, March 11th. Craig Hallum initiated coverage on shares of Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target for the company. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research report on Friday, February 20th. Finally, Freedom Capital upgraded Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Satellogic Price Performance

SATL stock opened at $3.59 on Friday. The firm has a market cap of $486.34 million, a price-to-earnings ratio of -14.36 and a beta of 1.45. Satellogic has a 1-year low of $1.25 and a 1-year high of $5.93. The firm has a fifty day moving average price of $3.55 and a two-hundred day moving average price of $2.85.

Satellogic (NASDAQ:SATL) last issued its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. Satellogic had a negative net margin of 27.01% and a negative return on equity of 18.57%. The firm had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $3.83 million.

Insider Buying and Selling

In other Satellogic news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were 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 in the company, valued at approximately $71,353,575. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 524,373 shares of company stock valued at $2,942,676 in the last quarter. 51.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently modified their holdings of SATL. Hsbc Holdings PLC purchased a new position in shares of Satellogic in the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Satellogic by 223,650.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock valued at $519,000 after buying an additional 277,326 shares in the last quarter. Invesco Ltd. raised its position in Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after buying an additional 5,723 shares during the period. XTX Topco Ltd acquired a new position in Satellogic during the fourth quarter valued at $294,000. Finally, Millennium Management LLC purchased a new stake in Satellogic in the 4th quarter worth about $2,172,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.