Terran Orbital Co. (NYSE:LLAP) Short Interest Update

Terran Orbital Co. (NYSE:LLAP) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 8,510,000 shares, a decline of 54.1% from the August 15th total of 18,530,000 shares. Based on an average trading volume of 6,030,000 shares, the short-interest ratio is presently 1.4 days. Approximately 5.3% of the shares of the stock are sold short.

Institutional Trading of Terran Orbital

Several institutional investors and hedge funds have recently modified their holdings of LLAP. Vanguard Group Inc. raised its stake in shares of Terran Orbital by 63.6% in the first quarter. Vanguard Group Inc. now owns 7,298,862 shares of the company’s stock worth $9,562,000 after purchasing an additional 2,837,638 shares during the last quarter. Legacy Capital Group California Inc. purchased a new stake in shares of Terran Orbital in the first quarter worth approximately $754,000. Bank of New York Mellon Corp raised its stake in shares of Terran Orbital by 63.5% in the second quarter. Bank of New York Mellon Corp now owns 430,060 shares of the company’s stock worth $353,000 after purchasing an additional 166,978 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of Terran Orbital in the fourth quarter worth approximately $178,000. Finally, Gabelli Funds LLC raised its stake in shares of Terran Orbital by 616.5% in the first quarter. Gabelli Funds LLC now owns 149,181 shares of the company’s stock worth $195,000 after purchasing an additional 128,361 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LLAP. HC Wainwright lowered Terran Orbital from a “buy” rating to a “neutral” rating and reduced their price target for the company from $3.00 to $0.25 in a research report on Monday, August 19th. B. Riley cut their target price on Terran Orbital from $1.00 to $0.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th.

Terran Orbital Trading Up 2.2 %

LLAP stock traded up $0.01 during trading on Friday, reaching $0.27. 9,919,091 shares of the stock were exchanged, compared to its average volume of 4,428,839. The firm’s 50 day moving average is $0.55 and its 200 day moving average is $0.90. Terran Orbital has a twelve month low of $0.23 and a twelve month high of $1.62. The firm has a market cap of $54.30 million, a P/E ratio of -0.32 and a beta of 1.94.

Terran Orbital (NYSE:LLAP) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $30.39 million for the quarter, compared to analyst estimates of $33.92 million. As a group, analysts predict that Terran Orbital will post -0.76 earnings per share for the current fiscal year.

Terran Orbital Company Profile

Terran Orbital Corporation manufactures and sells satellites for aerospace and defense industries in the United States and internationally. The company offers end-to-end satellite solutions. It engages in the integrated design, manufacture, and assembly of satellites; and management, operation, and provision of information from satellites that are on-orbit on behalf of its customers from its in-house mission operations centers and integrated international ground communications network using its proprietary software both on the satellite and throughout its ground infrastructure.