Satellogic (NASDAQ:SATL) Trading 6.1% Higher – Should You Buy?

Satellogic Inc. (NASDAQ:SATL) shares rose 6.1% during mid-day trading on Tuesday . The stock traded as high as $5.01 and last traded at $5.1470. Approximately 1,461,599 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 8,867,500 shares. The stock had previously closed at $4.85.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SATL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Northland Securities set a $11.00 price objective on shares of Satellogic in a report on Thursday, May 28th. Roth Capital reiterated a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Satellogic Trading Up 4.8%

The stock has a market cap of $781.61 million, a PE ratio of -6.19 and a beta of 1.36. The firm has a 50-day simple moving average of $4.68 and a 200-day simple moving average of $5.74. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The company had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. Equities analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SATL. Tidal Investments LLC bought a new stake in shares of Satellogic during the second quarter valued at about $11,613,000. Tema ETFs LLC bought a new position in shares of Satellogic in the second quarter valued at approximately $8,640,000. Renaissance Technologies LLC bought a new position in shares of Satellogic in the first quarter valued at approximately $6,463,000. Royal Bank of Canada grew its stake in Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after acquiring an additional 406,991 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Satellogic during the first quarter valued at approximately $1,607,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

Satellogic Company Profile

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.