Satellogic (NASDAQ:SATL) Shares Gap Up - What's Next?

Key Points

• Satellogic shares opened higher, rising from a prior close of $3.69 to $3.90 before trading at $3.8640 on volume of 732,166 shares.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” consensus and an average price target of $8.90; ratings include one Strong Buy, five Buys, one Hold and one Sell.
• Satellogic reported quarterly revenue of $15.92 million, above estimates, but its adjusted loss of $0.13 per share missed expectations of a $0.03 loss. Institutional investors own 17.58% of the company.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) gapped up before the market opened on Wednesday. The stock had previously closed at $3.69, but opened at $3.90. Satellogic shares last traded at $3.8640, with a volume of 732,166 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on SATL shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Satellogic in a research note on Monday, September 21st. Zacks Research cut Satellogic from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Wall Street Zen downgraded Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Freedom Capital upgraded Satellogic from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. Finally, Roth Capital restated a "buy" rating on shares of Satellogic in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Satellogic currently has an average rating of "Moderate Buy" and a consensus price target of $8.90.

Satellogic Price Performance

The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The firm has a market capitalization of $589.59 million, a price-to-earnings ratio of -4.70 and a beta of 1.37. The business's fifty day simple moving average is $5.15 and its 200 day simple moving average is $5.96.

Satellogic (NASDAQ:SATL - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.10). The company had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. On average, research analysts forecast that Satellogic Inc. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Satellogic

Hedge funds have recently added to or reduced their stakes in the company. Hidden Cove Wealth Management LLC increased its stake in Satellogic by 21.6% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company's stock valued at $213,000 after purchasing an additional 6,843 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Satellogic during the third quarter valued at about $749,000. Veracity Capital LLC increased its position in shares of Satellogic by 4.7% during the third quarter. Veracity Capital LLC now owns 62,348 shares of the company's stock worth $345,000 after acquiring an additional 2,772 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Satellogic during the second quarter worth about $11,613,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Satellogic in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 17.58% of the company's stock.

About Satellogic

Satellogic Inc NASDAQ: SATL is a geospatial intelligence company that operates a constellation of satellites designed to capture high-resolution imagery of Earth. Its satellites collect multispectral data that can be used to monitor changes in agriculture, infrastructure, natural resources, climate conditions and other areas of interest.

The company provides satellite imagery, tasking services and geospatial data products to government and commercial customers. Its platform is intended to support applications including defense and security, environmental monitoring, mapping, agriculture, energy and infrastructure management.

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