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

Satellogic Inc. (NASDAQ:SATL) was the target of some unusual options trading on Tuesday. Investors purchased 6,090 call options on the company. This represents an increase of approximately 55% compared to the typical volume of 3,924 call options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SATL. Craig Hallum assumed coverage on shares of Satellogic in a research note on Wednesday, January 21st. They issued a “buy” rating and a $5.00 target price on the stock. Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Northland Securities initiated coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price target for the company. Loop Capital set a $4.50 price objective on Satellogic in a research report on Wednesday, March 11th. Finally, Wall Street Zen raised Satellogic from a “sell” rating to a “hold” rating in a research report on Saturday. One investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Stock Performance

Satellogic stock traded up $0.25 during mid-day trading on Tuesday, reaching $5.21. 8,647,909 shares of the stock traded hands, compared to its average volume of 9,473,762. Satellogic has a 12-month low of $1.25 and a 12-month high of $5.93. The business’s 50-day moving average is $3.57 and its 200-day moving average is $2.86. 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 stock has a market capitalization of $705.12 million, a PE ratio of -20.56 and a beta of 1.46.

Satellogic (NASDAQ:SATL) last announced its 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. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The business had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $3.83 million.

Insider Buying and Selling

In other news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $5.55, for a total transaction of $30,941.25. Following the completion of the transaction, the insider directly owned 12,856,500 shares in the company, valued at $71,353,575. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 524,373 shares of company stock valued at $2,942,676 over the last 90 days. Insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. bought a new stake in shares of Satellogic during the 2nd quarter valued at $25,000. Abel Hall LLC purchased a new position in Satellogic during the fourth quarter valued at $25,000. StoneX Group Inc. bought a new stake in Satellogic during the fourth quarter valued at about $25,000. Neuberger Berman Group LLC purchased a new stake in Satellogic in the fourth quarter worth about $25,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Satellogic in the third quarter worth about $26,000. 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.