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

Key Points

• Shares gapped up — SATL opened at $4.98 versus a prior close of $4.58 and last traded at $4.8050 on about 6.34 million shares of volume.
• Analyst views are mixed — Craig Hallum initiated coverage with a Buy and $5 target while Weiss Ratings keeps a Sell (D-); MarketBeat's consensus rating is "Hold" with an average price target of $5.00.
• Weak fundamentals despite higher price — the company reported a ($0.02) EPS on $3.63M revenue, has a negative P/E and $726M market cap, yet the stock trades well above its 50‑day ($2.34) and 200‑day ($2.87) moving averages.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $4.58, but opened at $4.98. Satellogic shares last traded at $4.8050, with a volume of 6,336,140 shares.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SATL shares. Craig Hallum began coverage on Satellogic in a research report on Wednesday, January 21st. They issued a "buy" rating and a $5.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Satellogic in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.00.

Satellogic Stock Performance

The company's 50-day moving average is $2.34 and its 200-day moving average is $2.87. The firm has a market cap of $726.39 million, a price-to-earnings ratio of -22.27 and a beta of 1.36.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $3.63 million during the quarter.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently modified their holdings of SATL. Penserra Capital Management LLC acquired a new position in shares of Satellogic during the 2nd quarter worth about $380,000. ProShare Advisors LLC acquired a new position in shares of Satellogic in the second quarter valued at approximately $51,000. Geode Capital Management LLC increased its stake in shares of Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock worth $3,166,000 after purchasing an additional 825,121 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Satellogic during the second quarter worth approximately $58,000. Finally, Intech Investment Management LLC bought a new stake in Satellogic in the 2nd quarter valued at $120,000. Institutional investors and hedge funds own 17.58% of the company's stock.

Satellogic Company Profile

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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