Satellogic (NASDAQ:SATL) Hits New 1-Year High - Here's What Happened

Key Points

• Shares of Satellogic hit a new 52-week high, trading as high as $7.39 (last $7.1110) on Wednesday with about 410,266 shares changing hands, even as analysts' consensus is a Moderate Buy with a $5.50 target (below the current price).
• The company posted an earnings beat — EPS $0.17 vs. ($0.06) expected and revenue $6.25M vs. $3.83M expected — but remains unprofitable with a negative net margin (~27%) and negative ROE.
• An insider (Fitzgerald L. P. Cantor) sold 500,000 shares at $5.01 (over 1M shares sold by insiders this quarter), while insiders reportedly own roughly 51.6% of the stock and institutions about 17.6%.

Shares of Satellogic Inc. (NASDAQ:SATL - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $7.39 and last traded at $7.1110, with a volume of 410266 shares changing hands. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald set a $7.00 price target on shares of Satellogic in a research note on Friday, February 20th. Wall Street Zen raised shares of Satellogic from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Craig Hallum initiated coverage on shares of Satellogic in a report on Wednesday, January 21st. They issued a "buy" rating and a $5.00 target price for the company. Freedom Capital raised shares of Satellogic to a "strong-buy" rating in a report on Wednesday, March 11th. Finally, Zacks Research raised shares of Satellogic to a "hold" rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

Satellogic Price Performance

The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $1.03 billion, a PE ratio of -29.06 and a beta of 0.99. The firm's fifty day simple moving average is $4.03 and its 200-day simple moving average is $3.05.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.23. The business had revenue of $6.25 million for the quarter, compared to analysts' expectations of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%.

Insider Transactions at Satellogic

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,024,373 shares of company stock worth $5,447,676. 51.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new position in Satellogic during the 4th quarter valued at about $25,000. StoneX Group Inc. bought a new position in Satellogic during the 4th quarter valued at about $25,000. Abel Hall LLC bought a new position in Satellogic during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC bought a new position in Satellogic during the 3rd quarter valued at about $26,000. Finally, Legal & General Group Plc bought a new position in Satellogic during the 2nd quarter valued at about $27,000. Institutional investors own 17.58% of the company's stock.

About Satellogic

Satellogic Inc is a NewSpace company specializing in the design, manufacture and operation of a low‐Earth‐orbit (LEO) microsatellite constellation. The company's satellites capture high‐resolution multispectral imagery, enabling detailed monitoring of agricultural, forestry, maritime, energy and infrastructure assets. Satellogic's vertically integrated model covers end‐to‐end capabilities, from satellite development and deployment to data processing and analytics, allowing clients to access imagery and insights on demand.

Key offerings include geospatial data products, analytics services and software tools that leverage machine learning algorithms to interpret changes on Earth's surface.

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