Satellogic (NASDAQ:SATL) Shares Up 12.6% - Here's What Happened

Key Points

• Satellogic shares rose 12.6% to $3.255 on Friday, while trading volume was 75% below its average.
• Analyst views are mixed, but the stock has a Moderate Buy consensus rating and an average price target of $8.90.
• Quarterly revenue of $15.92 million exceeded the $9.57 million consensus estimate, but the company’s $0.13-per-share loss was wider than analysts’ expected $0.03 loss.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) shares were up 12.6% on Friday. The stock traded as high as $3.26 and last traded at $3.2550. 2,074,070 shares changed hands during trading, a decline of 75% from the average session volume of 8,191,202 shares. The stock had previously closed at $2.89.

Analyst Ratings Changes

SATL has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Roth Capital reiterated a "buy" rating on shares of Satellogic in a research note on Thursday, August 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Satellogic in a report on Monday, September 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Satellogic in a research note on Wednesday. Finally, Zacks Research downgraded Satellogic from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.90.

Satellogic Trading Up 17.8%

The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The stock has a market capitalization of $523.48 million, a PE ratio of -4.13 and a beta of 1.49. The stock has a 50-day moving average price of $4.68 and a two-hundred day moving average price of $5.26.

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

Institutional Inflows and Outflows

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

Satellogic Company Profile

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet's surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.

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