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

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

Institutional Investors Weigh In On Terran Orbital

A number of institutional investors have recently bought and sold shares of LLAP. Kovack Advisors Inc. increased its stake in Terran Orbital by 7.7% in the 1st quarter. Kovack Advisors Inc. now owns 140,000 shares of the company’s stock worth $183,000 after buying an additional 10,000 shares in the last quarter. Fifth Lane Capital LP purchased a new position in shares of Terran Orbital during the first quarter valued at about $80,000. Legacy Capital Group California Inc. purchased a new position in shares of Terran Orbital during the first quarter valued at about $754,000. Vanguard Group Inc. grew its position in shares of Terran Orbital by 63.6% during the first quarter. Vanguard Group Inc. now owns 7,298,862 shares of the company’s stock valued at $9,562,000 after purchasing an additional 2,837,638 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of 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. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Terran Orbital Price Performance

Terran Orbital stock remained flat at $0.25 during trading on Thursday. Terran Orbital has a 1-year low of $0.23 and a 1-year high of $1.62. The stock has a 50 day moving average of $0.25 and a 200 day moving average of $0.66. The company 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 announced its earnings results on Monday, August 12th. The company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The company had revenue of $30.39 million during the quarter, compared to the consensus estimate of $33.92 million. Sell-side analysts anticipate that Terran Orbital will post -0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLAP. B. Riley lowered their price target on Terran Orbital from $1.00 to $0.50 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. HC Wainwright cut 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.

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.