Slotnik Capital LLC Sells 350,000 Shares of Terran Orbital Co. (NYSE:LLAP)

Slotnik Capital LLC reduced its stake in Terran Orbital Co. (NYSE:LLAP) by 36.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600,000 shares of the company’s stock after selling 350,000 shares during the period. Terran Orbital comprises approximately 0.2% of Slotnik Capital LLC’s investment portfolio, making the stock its 17th largest position. Slotnik Capital LLC owned 0.30% of Terran Orbital worth $492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LLAP. Quadrature Capital Ltd bought a new stake in Terran Orbital during the 4th quarter worth $36,000. Fifth Lane Capital LP bought a new stake in shares of Terran Orbital during the first quarter worth about $80,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Terran Orbital in the first quarter valued at approximately $158,000. Kovack Advisors Inc. raised its holdings in Terran Orbital by 7.7% in the 1st quarter. Kovack Advisors Inc. now owns 140,000 shares of the company’s stock valued at $183,000 after buying an additional 10,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Terran Orbital by 616.5% during the 1st quarter. Gabelli Funds LLC now owns 149,181 shares of the company’s stock worth $195,000 after buying an additional 128,361 shares during the period. 85.03% of the stock is owned by institutional investors.

Terran Orbital Price Performance

Shares of LLAP stock opened at $0.24 on Tuesday. The stock has a market capitalization of $49.12 million, a PE ratio of -0.30 and a beta of 1.94. The business’s 50 day simple moving average is $0.46 and its 200 day simple moving average is $0.85. Terran Orbital Co. has a one year low of $0.23 and a one year high of $1.62.

Terran Orbital (NYSE:LLAP) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The firm had revenue of $30.39 million for the quarter, compared to analyst estimates of $33.92 million. As a group, research analysts expect that Terran Orbital Co. will post -0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

LLAP has been the subject of several recent research reports. HC Wainwright cut shares of Terran Orbital from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.00 to $0.25 in a research report on Monday, August 19th. B. Riley decreased their price objective on 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.