Satellogic (NASDAQ:SATL) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Satellogic (NASDAQ:SATL) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on SATL. Cantor Fitzgerald set a $7.00 price target on Satellogic in a research report on Friday, February 20th. Northland Securities began coverage on Satellogic in a report on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price objective on the stock. Zacks Research raised shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Loop Capital set a $4.50 target price on shares of Satellogic in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Satellogic presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Satellogic Stock Down 1.0%

Shares of NASDAQ SATL opened at $2.97 on Wednesday. The stock has a market capitalization of $402.35 million, a price-to-earnings ratio of -12.38 and a beta of 1.45. The stock’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $2.88. Satellogic has a 52-week low of $1.25 and a 52-week high of $5.93.

Insiders Place Their Bets

In related news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the transaction, the insider directly owned 12,862,075 shares of the company’s stock, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 524,373 shares of company stock worth $2,942,676 over the last quarter. 51.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC purchased a new position in Satellogic during the 2nd quarter valued at about $51,000. Geode Capital Management LLC lifted its position in shares of Satellogic by 1,671.4% in 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 in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Satellogic during the second quarter worth approximately $58,000. Intech Investment Management LLC purchased a new position in Satellogic during the second quarter valued at approximately $120,000. Finally, JPMorgan Chase & Co. purchased a new position in Satellogic during the second quarter valued at approximately $118,000. 17.58% of the stock is currently 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.