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

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

Satellogic Trading Up 4.9%

SATL traded up $0.25 during midday trading on Tuesday, reaching $5.21. 8,647,909 shares of the company’s stock traded hands, compared to its average volume of 9,473,762. Satellogic has a 52 week low of $1.25 and a 52 week high of $5.93. 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 has a fifty day moving average of $3.57 and a two-hundred day moving average of $2.86. The stock has a market capitalization of $705.12 million, a price-to-earnings ratio of -20.56 and a beta of 1.46.

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

Insider Buying and Selling at Satellogic

In related news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total value of $2,189,096.01. Following the completion of the sale, the insider owned 12,862,075 shares in the company, valued at $72,413,482.25. The trade was a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 524,373 shares of company stock worth $2,942,676. Company insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. bought a new stake in Satellogic during the fourth quarter worth about $16,830,000. Weiss Asset Management LP purchased a new position in shares of Satellogic during the fourth quarter valued at approximately $4,053,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after purchasing an additional 1,863,696 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Satellogic in the 4th quarter worth approximately $2,172,000. Finally, Vanguard Group Inc. grew its stake in shares of Satellogic by 44.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after buying an additional 1,002,400 shares during the last quarter. 17.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SATL has been the subject of a number of recent research reports. Northland Securities initiated coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price objective for the company. Loop Capital set a $4.50 price target on shares of Satellogic in a research note on Wednesday, March 11th. Freedom Capital upgraded shares of Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research note on Friday, February 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

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.