Satellogic Sees Unusually Large Options Volume (NASDAQ:SATL)

Satellogic Inc. (NASDAQ:SATL) saw unusually large options trading activity on Thursday. Traders purchased 7,639 put options on the company. This is an increase of 154% compared to the average daily volume of 3,002 put options.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Satellogic in a report on Monday, September 21st. Roth Capital reiterated a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Freedom Capital raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Stock Performance

Shares of SATL traded down $0.14 during trading hours on Thursday, hitting $3.79. The stock had a trading volume of 1,375,138 shares, compared to its average volume of 8,404,569. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The firm has a 50-day moving average price of $5.11 and a 200 day moving average price of $5.94. Satellogic has a fifty-two week low of $1.25 and a fifty-two week high of $12.00. The firm has a market capitalization of $583.44 million, a price-to-earnings ratio of -4.62 and a beta of 1.37.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, research analysts anticipate that Satellogic will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in Satellogic by 23.4% in the third quarter. SBI Securities Co. Ltd. now owns 16,005 shares of the company’s stock valued at $89,000 after purchasing an additional 3,035 shares during the period. Hidden Cove Wealth Management LLC lifted its holdings in Satellogic by 21.6% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company’s stock valued at $213,000 after purchasing an additional 6,843 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Satellogic during the 3rd quarter valued at about $749,000. Veracity Capital LLC boosted its holdings in shares of Satellogic by 4.7% during the 3rd quarter. Veracity Capital LLC now owns 62,348 shares of the company’s stock worth $345,000 after purchasing an additional 2,772 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in Satellogic during the second quarter worth $11,613,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

About Satellogic

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet’s surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.