Satellogic Target of Unusually Large Options Trading (NASDAQ:SATL)

Satellogic Inc. (NASDAQ:SATL) saw unusually large options trading on Thursday. Stock investors bought 12,563 call options on the stock. This represents an increase of approximately 139% compared to the average daily volume of 5,266 call options.

Satellogic Stock Performance

Shares of NASDAQ SATL traded up $0.77 during mid-day trading on Thursday, hitting $7.66. The company had a trading volume of 12,358,439 shares, compared to its average volume of 11,056,849. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -30.62 and a beta of 0.99. Satellogic has a 12 month low of $1.25 and a 12 month high of $7.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02. The firm’s 50 day simple moving average is $4.06 and its two-hundred day simple moving average is $3.08.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.23. The business had revenue of $6.25 million for the quarter, compared to the consensus estimate of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Activity at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This trade represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,024,373 shares of company stock valued at $5,447,676. 51.62% of the stock is currently owned by company insiders.

Institutional Trading of Satellogic

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new stake in Satellogic during the 4th quarter valued at $38,000. Caitong International Asset Management Co. Ltd raised its stake in Satellogic by 223,650.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock valued at $519,000 after acquiring an additional 277,326 shares in the last quarter. Invesco Ltd. raised its stake in Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after acquiring an additional 5,723 shares in the last quarter. XTX Topco Ltd bought a new stake in Satellogic during the 4th quarter valued at $294,000. Finally, Millennium Management LLC bought a new stake in Satellogic during the 4th quarter valued at $2,172,000. Institutional investors own 17.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Loop Capital set a $4.50 target price on Satellogic in a research report on Wednesday, March 11th. Northland Securities assumed coverage on Satellogic in a research report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price for the company. Craig Hallum assumed coverage on Satellogic in a research report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 target price for the company. Zacks Research upgraded Satellogic to a “hold” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.50.

About Satellogic

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.