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

Terran Orbital Co. (NYSE:LLAP) was the recipient of a significant increase in short interest in 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. Approximately 5.4% of the company’s stock are sold short. Based on an average daily trading volume, of 6,230,000 shares, the short-interest ratio is currently 1.4 days.

Institutional Trading of Terran Orbital

A number of hedge funds and other institutional investors have recently bought and sold shares of LLAP. Vanguard Group Inc. increased its stake in 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 buying an additional 2,837,638 shares in the last quarter. Legacy Capital Group California Inc. purchased a new position in Terran Orbital during the first quarter valued at $754,000. Bank of New York Mellon Corp increased its holdings in Terran Orbital by 63.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 430,060 shares of the company’s stock valued at $353,000 after acquiring an additional 166,978 shares during the last quarter. Bernardo Wealth Planning LLC boosted its holdings in shares of Terran Orbital by 6.6% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 237,861 shares of the company’s stock valued at $195,000 after purchasing an additional 14,700 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Terran Orbital by 85.5% during the second quarter. Rhumbline Advisers now owns 203,769 shares of the company’s stock valued at $167,000 after purchasing an additional 93,925 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Terran Orbital Price Performance

Shares of NYSE LLAP remained flat at $0.25 during midday trading on Thursday. The company has a market capitalization of $51.09 million, a PE ratio of -0.32 and a beta of 1.95. The firm has a 50-day moving average price of $0.25 and a two-hundred day moving average price of $0.66. Terran Orbital has a 12-month low of $0.23 and a 12-month high of $1.62.

Terran Orbital (NYSE:LLAP) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $30.39 million during the quarter, compared to the consensus estimate of $33.92 million. Equities research analysts anticipate that Terran Orbital will post -0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. HC Wainwright downgraded Terran Orbital from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.00 to $0.25 in a research note 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 report on Tuesday, August 13th.

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.