Tidal Investments LLC Invests $11.61 Million in Satellogic Inc. $SATL

Key Points

• Tidal Investments purchased 2.03 million Satellogic shares worth approximately $11.61 million, giving it a 1.32% stake. Institutional investors and hedge funds collectively own 17.58% of the company.
• Satellogic shares opened at $4.79, up 1.9%, with a 52-week range of $1.25 to $12.00 and a market capitalization of approximately $736 million.
• The company reported quarterly revenue of $15.92 million, exceeding expectations, but its $0.13 per-share loss was wider than forecast. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $8.90.

Tidal Investments LLC bought a new position in shares of Satellogic Inc. (NASDAQ:SATL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,030,328 shares of the company's stock, valued at approximately $11,613,000. Tidal Investments LLC owned about 1.32% of Satellogic as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. purchased a new stake in Satellogic in the fourth quarter valued at $16,830,000. Weiss Asset Management LP purchased a new position in shares of Satellogic during the fourth quarter worth about $4,053,000. Cantor Fitzgerald L. P. grew its holdings in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company's stock worth $25,022,000 after purchasing an additional 1,863,696 shares during the last quarter. Tema ETFs LLC acquired a new stake in shares of Satellogic during the second quarter worth about $8,640,000. Finally, Renaissance Technologies LLC acquired a new position in Satellogic during the first quarter worth approximately $6,463,000. 17.58% of the stock is owned by institutional investors and hedge funds.

Satellogic Stock Up 1.9%

SATL opened at $4.79 on Friday. Satellogic Inc. has a 52 week low of $1.25 and a 52 week high of $12.00. The business has a 50 day moving average price of $4.69 and a two-hundred day moving average price of $5.71. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. The company has a market cap of $736.41 million, a PE ratio of -5.84 and a beta of 1.36.

Satellogic (NASDAQ:SATL - Get Free Report) last announced its 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). The company had revenue of $15.92 million during the quarter, compared to analysts' expectations 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, research analysts anticipate that Satellogic Inc. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SATL. Weiss Ratings reissued a "sell (d-)" rating on shares of Satellogic in a report on Friday, August 7th. Northland Securities set a $11.00 target price on shares of Satellogic in a report on Thursday, May 28th. Freedom Capital upgraded shares of Satellogic from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Cantor Fitzgerald decreased their price target on shares of Satellogic from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Satellogic from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.90.

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.

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