Satellogic Sees Unusually Large Options Volume (NASDAQ:SATL)

Key Points

• Satellogic saw unusually high bearish options activity: Investors bought 7,639 put options, roughly 154% above the average volume of 3,002.
• SATL shares fell 3.7% to $3.79, while the company reported a quarterly loss of $0.13 per share—$0.10 worse than analysts expected—despite revenue exceeding estimates.
• Analyst opinions remain mixed, but the consensus rating is “Moderate Buy” with an average price target of $8.90; institutional investors own 17.58% of the stock.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock investors acquired 7,639 put options on the stock. This is an increase of approximately 154% compared to the average volume of 3,002 put options.

Satellogic Trading Down 3.7%

SATL stock traded down $0.14 during mid-day trading on Thursday, reaching $3.79. The company had a trading volume of 1,375,138 shares, compared to its average volume of 8,404,569. The firm has a 50 day moving average of $5.11 and a 200 day moving average of $5.94. The company has a market capitalization of $583.44 million, a PE ratio of -4.62 and a beta of 1.37. Satellogic has a 12 month low of $1.25 and a 12 month high of $12.00. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31.

Satellogic (NASDAQ:SATL - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share 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 the consensus estimate of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. On average, equities analysts predict that Satellogic will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SATL shares. Zacks Research lowered Satellogic from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Cantor Fitzgerald reissued an "overweight" rating on shares of Satellogic in a report on Monday, September 21st. Wall Street Zen lowered shares of Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Freedom Capital upgraded Satellogic from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Satellogic in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.90.

Institutional Trading of Satellogic

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake 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 buying an additional 3,035 shares during the last quarter. Hidden Cove Wealth Management LLC increased its holdings in shares of Satellogic by 21.6% in the third 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 during the period. Counterpoint Mutual Funds LLC acquired a new position in shares of Satellogic in the third quarter valued at about $749,000. Veracity Capital LLC lifted its holdings in shares of Satellogic by 4.7% during the third 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 period. Finally, Tidal Investments LLC acquired a new stake in shares of Satellogic during the second quarter worth about $11,613,000. 17.58% of the stock is currently owned by institutional investors.

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.

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