Satellogic (NASDAQ:SATL) Trading 14.5% Higher - Here's Why

Key Points

• Satellogic shares rose 14.5% to about $4.52 in mid-day trading, though volume was approximately 60% below the stock’s average daily volume.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and a $9.10 average price target, with Roth Capital recently raising its target to $15.
• The company remains unprofitable, reporting a quarterly loss of $0.84 per share on $6.11 million in revenue, while insiders recently sold substantial holdings, including 10 million shares by Liberty 77 Capital.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) shares were up 14.5% during mid-day trading on Tuesday . The stock traded as high as $4.46 and last traded at $4.5220. Approximately 3,826,992 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 9,590,580 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SATL. Freedom Capital raised shares of Satellogic from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. Roth Capital boosted their price target on shares of Satellogic from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of Satellogic from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Citigroup reiterated an "outperform" rating on shares of Satellogic in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Satellogic has a consensus rating of "Buy" and a consensus target price of $9.10.

Satellogic Trading Up 13.7%

The company has a 50 day moving average of $5.65 and a 200-day moving average of $5.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44. The stock has a market cap of $665.60 million, a price-to-earnings ratio of -5.99 and a beta of 1.31.

Satellogic (NASDAQ:SATL - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported ($0.84) EPS for the quarter. The firm had revenue of $6.11 million for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. On average, research analysts anticipate that Satellogic Inc. will post -0.11 earnings per share for the current year.

Insider Activity at Satellogic

In other news, CTO Alan Kharsansky sold 87,091 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the transaction, the chief technology officer owned 47,785 shares of the company's stock, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the transaction, the director owned 10,000,000 shares of the company's stock, valued at $97,700,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 38.84% of the company's stock.

Institutional Trading of Satellogic

A number of large investors have recently modified their holdings of the stock. Abel Hall LLC acquired a new stake in shares of Satellogic in the fourth quarter valued at $25,000. StoneX Group Inc. acquired a new position in Satellogic during the 4th quarter worth $25,000. Neuberger Berman Group LLC purchased a new stake in Satellogic during the 4th quarter worth about $25,000. Legal & General Group Plc purchased a new stake in Satellogic during the 2nd quarter worth about $27,000. Finally, ProShare Advisors LLC raised its position in Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company's stock valued at $29,000 after purchasing an additional 3,561 shares in the last quarter. Hedge funds and other institutional investors 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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