Short Interest in Terran Orbital Co. (NYSE:LLAP) Expands By 12.0%

Terran Orbital Co. (NYSE:LLAP) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 8,750,000 shares, an increase of 12.0% from the September 30th total of 7,810,000 shares. Currently, 5.4% of the company’s shares are short sold. Based on an average trading volume of 6,230,000 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LLAP shares. HC Wainwright downgraded shares of Terran Orbital from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.00 to $0.25 in a report on Monday, August 19th. B. Riley decreased their price objective on shares of Terran Orbital from $1.00 to $0.50 and set a “neutral” rating for the company in a research note on Tuesday, August 13th.

Hedge Funds Weigh In On Terran Orbital

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Terran Orbital by 63.6% in the 1st quarter. Vanguard Group Inc. now owns 7,298,862 shares of the company’s stock worth $9,562,000 after acquiring an additional 2,837,638 shares in the last quarter. Legacy Capital Group California Inc. bought a new stake in Terran Orbital during the first quarter valued at about $754,000. Bank of New York Mellon Corp boosted its position in Terran Orbital by 63.5% during the second quarter. Bank of New York Mellon Corp now owns 430,060 shares of the company’s stock valued at $353,000 after purchasing an additional 166,978 shares in the last quarter. Gabelli Funds LLC boosted its position in Terran Orbital by 616.5% during the first quarter. Gabelli Funds LLC now owns 149,181 shares of the company’s stock valued at $195,000 after purchasing an additional 128,361 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Terran Orbital during the first quarter valued at about $158,000. Institutional investors own 85.03% of the company’s stock.

Terran Orbital Stock Performance

Shares of Terran Orbital stock remained flat at $0.25 on Thursday. The firm has a 50-day moving average of $0.25 and a 200 day moving average of $0.66. Terran Orbital has a 12 month low of $0.23 and a 12 month high of $1.62. The stock has a market cap of $51.09 million, a P/E ratio of -0.32 and a beta of 1.95.

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, meeting the consensus estimate of ($0.19). The company had revenue of $30.39 million for the quarter, compared to the consensus estimate of $33.92 million. As a group, equities analysts forecast that Terran Orbital will post -0.76 earnings per share for the current year.

About Terran Orbital

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.