Satellogic (NASDAQ:SATL) Trading 6.1% Higher - What's Next?

Key Points

• Satellogic shares rose 6.1% to approximately $5.15 in Tuesday trading, although volume was 84% below the average session level.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $8.90, compared with its recent trading price.
• Satellogic exceeded quarterly revenue expectations with $15.92 million but missed on earnings, reporting a loss of $0.13 per share versus the expected $0.03 loss; institutional investors currently own 17.58% of the company.

Satellogic Inc. (NASDAQ:SATL - Get Free Report)'s share price rose 6.1% during trading on Tuesday . The stock traded as high as $5.01 and last traded at $5.1470. Approximately 1,461,599 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 8,867,500 shares. The stock had previously closed at $4.85.

Wall Street Analyst Weigh In

SATL has been the topic of several analyst reports. Freedom Capital raised Satellogic from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Wall Street Zen lowered Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Roth Capital restated a "buy" rating on shares of Satellogic in a research note on Thursday, August 6th. Northland Securities set a $11.00 price objective on shares of Satellogic in a report on Thursday, May 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Satellogic in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $8.90.

Satellogic Price Performance

The business has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $5.74. The stock has a market cap of $781.61 million, a PE ratio of -6.19 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.

Satellogic (NASDAQ:SATL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.10). The business had revenue of $15.92 million for 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%. Research analysts expect that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in shares of Satellogic during the 2nd quarter valued at approximately $11,613,000. Tema ETFs LLC bought a new stake in shares of Satellogic in the 2nd quarter worth approximately $8,640,000. Renaissance Technologies LLC bought a new stake in shares of Satellogic in the 1st quarter worth approximately $6,463,000. Royal Bank of Canada raised its holdings in shares of Satellogic by 4,052.9% in the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company's stock worth $2,269,000 after purchasing an additional 406,991 shares during the period. Finally, Sei Investments Co. purchased a new position in Satellogic in the first quarter valued at approximately $1,607,000. 17.58% of the stock is currently owned by institutional investors.

About Satellogic

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.