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

Key Points

• Wall Street Zen upgraded Satellogic from “Sell” to “Hold.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $8.50.
• Satellogic reported quarterly earnings per share of $0.14, beating the consensus estimate of a $0.02 loss. Revenue was $16.04 million, above the $12.44 million estimate.
• The shares opened at $3.30, compared with a 12-month range of $1.25 to $12.00.

Satellogic (NASDAQ:SATL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

SATL has been the topic of a number of other research reports. Roth Capital reissued a "buy" rating on shares of Satellogic in a research report on Thursday, August 6th. Zacks Research cut shares of Satellogic from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Satellogic in a research note on Wednesday, November 4th. Finally, Cantor Fitzgerald dropped their price objective on shares of Satellogic from $9.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Satellogic presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

Satellogic Price Performance

SATL opened at $3.30 on Friday. The company has a market capitalization of $507.34 million, a price-to-earnings ratio of -5.00 and a beta of 1.49. The company has a current ratio of 4.90, a quick ratio of 2.31 and a debt-to-equity ratio of 1.36. Satellogic has a 12-month low of $1.25 and a 12-month high of $12.00. The business's fifty day simple moving average is $4.54 and its 200-day simple moving average is $5.24.

Satellogic (NASDAQ:SATL - Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.16. Satellogic had a positive return on equity of 10.43% and a negative net margin of 179.55%. The firm had revenue of $16.04 million during the quarter, compared to the consensus estimate of $12.44 million. On average, equities research analysts anticipate that Satellogic will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Satellogic during the second quarter valued at about $11,613,000. Tema ETFs LLC purchased a new position in shares of Satellogic in the 2nd quarter worth approximately $8,640,000. Renaissance Technologies LLC purchased a new position in shares of Satellogic in the 1st quarter worth approximately $6,463,000. Royal Bank of Canada raised its stake in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company's stock worth $2,269,000 after acquiring an additional 406,991 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Satellogic during the 1st quarter worth approximately $1,607,000. 17.58% of the stock is currently owned by institutional investors.

About Satellogic

Satellogic is a space technology company that designs, manufactures and operates Earth-observation satellites. It provides satellite imagery and geospatial data products to customers seeking information about conditions and changes on the ground. The company's services include imagery and monitoring solutions for applications such as agriculture, forestry, energy, infrastructure and government operations. Satellogic also offers access to satellite data and imaging capacity for organizations that need tailored Earth-observation capabilities.

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