Terran Orbital Co. (NYSE:LLAP – Get Rating) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 3,890,000 shares, a decrease of 8.3% from the December 31st total of 4,240,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,140,000 shares, the days-to-cover ratio is presently 3.4 days.
Insider Transactions at Terran Orbital
In other news, major shareholder Beach Point Capital Management sold 17,207 shares of the company's stock in a transaction on Monday, January 9th. The shares were sold at an average price of $1.50, for a total transaction of $25,810.50. Following the completion of the sale, the insider now owns 958,961 shares of the company's stock, valued at $1,438,441.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 327,669 shares of company stock valued at $727,777 over the last 90 days. 30.90% of the stock is currently owned by corporate insiders.
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Institutional Trading of Terran Orbital
A number of large investors have recently made changes to their positions in LLAP. Strs Ohio purchased a new stake in shares of Terran Orbital during the second quarter worth approximately $25,000. Penserra Capital Management LLC purchased a new position in Terran Orbital in the first quarter valued at approximately $29,000. Lincoln National Corp purchased a new position in Terran Orbital in the second quarter valued at approximately $46,000. American International Group Inc. acquired a new stake in shares of Terran Orbital in the second quarter valued at approximately $51,000. Finally, Bernardo Wealth Planning LLC acquired a new stake in shares of Terran Orbital in the third quarter valued at approximately $55,000. 76.83% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
LLAP has been the topic of several recent research reports. Canaccord Genuity Group lowered their price target on shares of Terran Orbital from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, November 1st. Canaccord Genuity Group boosted their price target on shares of Terran Orbital from $14.00 to $15.00 in a research report on Thursday, November 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Terran Orbital currently has an average rating of "Buy" and a consensus price target of $11.00.
Terran Orbital Trading Down 2.3 %
NYSE LLAP traded down $0.05 during trading hours on Monday, reaching $1.90. The company had a trading volume of 100,625 shares, compared to its average volume of 687,143. The stock has a 50-day moving average of $1.80 and a 200 day moving average of $2.83. Terran Orbital has a 1-year low of $1.29 and a 1-year high of $12.69.
Terran Orbital (NYSE:LLAP – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.02. The business had revenue of $27.83 million for the quarter, compared to analysts' expectations of $27.20 million. On average, sell-side analysts anticipate that Terran Orbital will post -0.97 earnings per share for the current year.
About Terran Orbital
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Terran Orbital Corporation manufactures, owns, and operates satellites and related space-based solutions that provide earth observation, data and analytics to defense, intelligence, civil, and commercial end users in the United States. The company operates through two segments, Satellite Solutions and Earth Observation Solutions.
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