Satellogic (NASDAQ:SATL) Sees Strong Trading Volume on Better-Than-Expected Earnings

Shares of Satellogic Inc. (NASDAQ:SATL) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 9,705,353 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 9,049,166 shares.The stock last traded at $4.0250 and had previously closed at $3.28.

The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. Satellogic had a negative return on equity of 18.57% and a negative net margin of 27.01%.The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $3.83 million.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SATL. Northland Securities began coverage on Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price on the stock. Zacks Research upgraded Satellogic to a “hold” rating in a research report on Thursday, February 19th. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research report on Friday, February 20th. Loop Capital set a $4.50 price objective on Satellogic in a research note on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Insider Buying and Selling at Satellogic

In other news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $5.55, for a total value of $30,941.25. Following the completion of the sale, the insider owned 12,856,500 shares in the company, valued at approximately $71,353,575. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 524,373 shares of company stock valued at $2,942,676 over the last quarter. Corporate insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Several hedge funds have recently added to or reduced their stakes in SATL. Halter Ferguson Financial Inc. bought a new stake in Satellogic in the third quarter worth about $1,276,000. Intech Investment Management LLC bought a new position in shares of Satellogic during the second quarter valued at approximately $120,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Satellogic in the second quarter worth approximately $25,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Satellogic in the second quarter worth approximately $58,000. Finally, ProShare Advisors LLC bought a new stake in shares of Satellogic during the 2nd quarter worth approximately $51,000. 17.58% of the stock is currently owned by institutional investors.

Satellogic Trading Up 9.5%

The stock has a 50 day moving average of $3.55 and a 200-day moving average of $2.86. The stock has a market capitalization of $486.34 million, a P/E ratio of -14.36 and a beta of 1.45.

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.