Satellogic (NASDAQ:SATL) Shares Up 6.7% – Still a Buy?

Satellogic Inc. (NASDAQ:SATL) shares traded up 6.7% during mid-day trading on Friday . The stock traded as high as $3.74 and last traded at $3.7250. 4,796,875 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 9,762,562 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Satellogic Stock Performance

The stock has a 50-day moving average of $1.98 and a two-hundred day moving average of $2.85. The company has a market cap of $507.34 million, a P/E ratio of -15.52 and a beta of 1.36.

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

Hedge Funds Weigh In On Satellogic

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Satellogic by 44.4% during the third 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 during the period. Geode Capital Management LLC lifted its stake in shares of Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after purchasing an additional 825,121 shares during the last quarter. Halter Ferguson Financial Inc. bought a new stake in Satellogic during the third quarter valued at about $1,276,000. Penserra Capital Management LLC bought a new position in Satellogic in the second quarter worth about $380,000. Finally, Rhumbline Advisers purchased a new stake in shares of Satellogic during the second quarter valued at about $351,000. Institutional investors own 17.58% of the company’s stock.

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.