Satellogic (NASDAQ:SATL) Shares Up 6.5% - Here's What Happened

Key Points

• Satellogic shares rose 6.5% to $5.675 during Tuesday trading, with about 2.56 million shares changing hands—73% below the average daily volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $8.90, despite Cantor Fitzgerald cutting its target to $9.00 and one firm downgrading the stock to “Sell.”
• The company beat revenue expectations with quarterly revenue of $15.92 million versus $9.57 million forecast, but its $0.13 per-share loss was wider than expected; insiders also recently sold significant holdings.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) rose 6.5% during trading on Tuesday . The company traded as high as $5.60 and last traded at $5.6750. Approximately 2,560,724 shares changed hands during trading, a decline of 73% from the average daily volume of 9,585,144 shares. The stock had previously closed at $5.33.

Analyst Ratings Changes

SATL has been the subject of several research reports. Cantor Fitzgerald decreased their price target on shares of Satellogic from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Roth Capital reissued a "buy" rating on shares of Satellogic in a research note on Thursday, August 6th. Northland Securities set a $11.00 price target on shares of Satellogic in a report on Thursday, May 28th. Finally, Weiss Ratings raised shares of Satellogic from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Satellogic currently has a consensus rating of "Buy" and a consensus price target of $8.90.

Satellogic Trading Up 7.4%

The company has a 50 day moving average of $5.18 and a 200 day moving average of $5.49. The firm has a market cap of $848.67 million, a P/E ratio of -6.98 and a beta of 1.31. 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 posted its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) 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 business had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. Analysts predict that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Alan Kharsansky sold 87,091 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the completion of the sale, the chief technology officer directly owned 47,785 shares of the company's stock, valued at approximately $399,004.75. This represents a 64.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the sale, the director directly owned 10,000,000 shares of the company's stock, valued at approximately $97,700,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 38.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently made changes to their positions in SATL. Geode Capital Management LLC grew its holdings in Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock valued at $3,166,000 after buying an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Satellogic during the second quarter worth approximately $118,000. Legal & General Group Plc bought a new stake in shares of Satellogic in the second quarter valued at approximately $27,000. Rhumbline Advisers bought a new stake in shares of Satellogic in the second quarter valued at approximately $351,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Satellogic in the second quarter worth $97,000. 17.58% of the stock is owned by institutional investors and hedge funds.

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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