Satellogic (NASDAQ:SATL) Stock Jumps 9% - Time to Buy?

Key Points

• Satellogic shares rose 9.3% to about $4.05, although trading volume was roughly 85% below the average session volume.
• Analyst opinions remain mixed, but the overall consensus is “Moderate Buy” with an average price target of $8.90—more than double the stock’s trading price.
• The company exceeded revenue expectations with $15.92 million for the quarter, but missed on earnings per share, reporting a $0.13 loss versus a forecasted $0.03 loss; Satellogic also posted a deeply negative net margin.

Satellogic Inc. (NASDAQ:SATL - Get Free Report)'s stock price rose 9% on Tuesday. The company traded as high as $4.04 and last traded at $4.0450. Approximately 1,279,261 shares were traded during trading, a decline of 85% from the average session volume of 8,325,935 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

SATL has been the topic of a number of recent research reports. Wall Street Zen cut shares of Satellogic from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Freedom Capital upgraded Satellogic from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. Roth Capital reissued a "buy" rating on shares of Satellogic in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Satellogic in a research report on Friday, August 7th. Finally, Zacks Research cut shares of Satellogic from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $8.90.

Satellogic Trading Up 9.3%

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 company's 50 day simple moving average is $5.01 and its two-hundred day simple moving average is $5.26. The stock has a market cap of $623.42 million, a price-to-earnings ratio of -4.95 and a beta of 1.37.

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 negative net margin of 325.65% and a positive return on equity of 303.84%. The company had revenue of $15.92 million during the quarter, compared to the consensus estimate of $9.57 million. Research analysts expect that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Several large investors have recently made changes to their positions in SATL. Allworth Financial LP boosted its holdings in shares of Satellogic by 69.4% in the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company's stock worth $36,000 after acquiring an additional 2,545 shares in the last quarter. Veracity Capital LLC boosted its position in shares of Satellogic by 4.7% in the 3rd quarter. Veracity Capital LLC now owns 62,348 shares of the company's stock worth $345,000 after purchasing an additional 2,772 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Satellogic by 23.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 16,005 shares of the company's stock valued at $89,000 after acquiring an additional 3,035 shares during the last quarter. Hidden Cove Wealth Management LLC grew its holdings in shares of Satellogic by 21.6% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company's stock valued at $213,000 after buying an additional 6,843 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Satellogic in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 17.58% of the company's stock.

About Satellogic

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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