Satellogic (NASDAQ:SATL) Shares Up 9.1% – Should You Buy?

Satellogic Inc. (NASDAQ:SATL) shares shot up 9.1% during trading on Friday . The company traded as high as $5.78 and last traded at $5.78. 2,053,730 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 9,363,870 shares. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Capital restated a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Cantor Fitzgerald reduced their price target on Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Citigroup reissued an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Price Performance

The company’s fifty day moving average price is $4.92 and its 200 day moving average price is $5.54. The company has a market capitalization of $870.17 million, a P/E ratio of -6.90 and a beta of 1.31. 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 issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The company had revenue of $15.92 million during the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. As a group, sell-side analysts forecast that Satellogic Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other Satellogic news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total value of $97,700,000.00. Following the completion of the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 38.84% of the stock is owned by corporate insiders.

Institutional Trading of Satellogic

Several large investors have recently modified their holdings of the stock. X Square Capital LLC acquired a new position in shares of Satellogic in the 2nd quarter valued at approximately $286,000. Bank of New York Mellon Corp acquired a new stake in shares of Satellogic in the 2nd quarter valued at $1,278,000. Tema ETFs LLC bought a new position in shares of Satellogic in the 2nd quarter valued at $8,640,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Satellogic in the 2nd quarter valued at $402,000. Finally, Bank of America Corp DE raised its holdings in shares of Satellogic by 29.8% during the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after buying an additional 16,707 shares in the last quarter. 17.58% of the stock is 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.