Satellogic (NASDAQ:SATL) Reaches New 1-Year High – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $7.39 and last traded at $7.1110, with a volume of 410266 shares changing hands. The stock had previously closed at $6.95.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research upgraded shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Cantor Fitzgerald set a $7.00 target price on shares of Satellogic in a research note on Friday, February 20th. Finally, Freedom Capital upgraded shares of Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.50.

Satellogic Price Performance

The stock’s 50-day moving average price is $4.10 and its 200 day moving average price is $3.11. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -28.80 and a beta of 0.99. The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93.

Satellogic (NASDAQ:SATL) last released its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.23. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. The business had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $3.83 million.

Insider Buying and Selling at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the sale, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,024,373 shares of company stock valued at $5,447,676 in the last three months. 51.62% of the stock is currently owned by company insiders.

Institutional Trading of Satellogic

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of Satellogic during the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC acquired a new stake in shares of Satellogic during the 3rd quarter valued at about $26,000. LMR Partners LLP acquired a new position in Satellogic in the second quarter valued at about $30,000. Squarepoint Ops LLC acquired a new position in Satellogic in the third quarter valued at about $33,000. Finally, Virtu Financial LLC acquired a new position in Satellogic in the third quarter valued at about $36,000. 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.