Satellogic (NASDAQ:SATL) Stock Jumps 6.2% - Here's What Happened

Key Points

• Satellogic shares rose 6.2% to $5.95 in midday trading, reaching as high as $5.99, although trading volume was 88% below the average session volume.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $8.90, despite recent sell and strong-buy rating changes.
• The company beat revenue expectations with quarterly revenue of $15.92 million versus $9.57 million expected, but missed on earnings, posting a loss of $0.13 per share against a consensus loss of $0.03.

Satellogic Inc. (NASDAQ:SATL - Get Free Report)'s stock price was up 6.2% on Wednesday. The company traded as high as $5.99 and last traded at $5.9480. 1,049,061 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 8,713,035 shares. The stock had previously closed at $5.60.

Analyst Ratings Changes

A number of research analysts recently issued reports on SATL shares. Wall Street Zen downgraded shares of Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Satellogic in a research report on Friday, August 7th. 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. Finally, Freedom Capital upgraded Satellogic from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. One investment 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.90.

Satellogic Stock Performance

The stock has a market capitalization of $894.00 million, a price-to-earnings ratio of -7.07 and a beta of 1.36. 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 firm's 50 day moving average is $4.98 and its 200-day moving average is $5.92.

Satellogic (NASDAQ:SATL - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $9.57 million. Analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Large investors have recently bought and sold shares of the business. Tidal Investments LLC purchased a new position in shares of Satellogic during the 2nd quarter valued at approximately $11,613,000. Tema ETFs LLC acquired a new position in Satellogic during the second quarter worth $8,640,000. Renaissance Technologies LLC acquired a new position in Satellogic during the first quarter worth $6,463,000. Royal Bank of Canada lifted its holdings in Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company's stock valued at $2,269,000 after purchasing an additional 406,991 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Satellogic in the first quarter valued at about $1,607,000. Institutional investors and hedge funds own 17.58% of the company's stock.

Satellogic Company Profile

Satellogic Inc NASDAQ: SATL is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.

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