Terran Orbital Corp (LLAP – Research Report), the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Mike Crawford from B.Riley Financial downgraded the rating on the stock to a Hold and gave it a $1.35 price target.
Geoff Meacham has given his Hold rating due to a combination of factors involving Terran Orbital Corp’s uncertain financial dealings and inconsistent communications. Concerns regarding Terran Orbital’s revenue projections have arisen due to their primary customer, Rivada Space Networks, which represents a significant portion of the company’s backlog and exhibits signs of financial instability. This is coupled with the fact that Rivada’s financing for a large-scale satellite project remains unsecured, casting doubt on the fulfillment of Terran Orbital’s expected revenue.
Additionally, Terran Orbital’s mixed and sometimes contradictory public statements have created uncertainty and could potentially undermine investor confidence. The company’s financial disclosures and strategic intentions have been unclear, as evidenced by conflicting reports about whether Terran Orbital is seeking a buyer. Furthermore, the lack of a permanent CFO and the presence of a significant number of outstanding warrants add to the company’s risk profile, prompting the analyst to adopt a cautious stance and adjust the stock’s rating to Hold with a lowered price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Terran Orbital Corp (LLAP) Company Description:
Tailwind Two Acquisition Corp is a blank check company.
Read More on LLAP:
- Terran Orbital enters 2024 on stronger financial footing, says Stifel
- Terran Orbital sees year-end cash balance in excess of $70M
- Terran Orbital receives payment from Rivada
- Terran Orbital investors call for separation of chairman, CEO roles
- Terran Orbital price target lowered to $3 from $5 at H.C. Wainwright
