Terran Orbital Corp [NYSE: LLAP] closed the trading session at $1.18. The company report on March 4, 2024 at 9:00 AM that Terran Orbital Corporation Adopts Limited Duration Stockholder Rights Plan; Independent Committee of the Board will Determine Course of Action in Best Interest of all Stockholders.
Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced that the Company’s Board of Directors (the “Board”) adopted a limited duration stockholder rights plan (the “Rights Plan”), which is intended to enable all stockholders to realize the full value of their investment in Terran Orbital. The Board adopted the Rights Plan following a non-binding proposal (the “Lockheed Proposal”) from Lockheed Martin Corporation (“Lockheed Martin”) on March 1, 2024 to acquire all outstanding shares of the Company’s common stock for cash. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, an independent committee of the Board will review and evaluate the Lockheed Proposal as part of the Company’s ongoing review of strategic alternatives to determine the course of action that it believes will maximize value for the Company’s stockholders. However, there is no guarantee that a strategic transaction involving Lockheed Martin or any other party will be approved or consummated. The independent committee does not intend to provide any updates with respect to the Lockheed Proposal or any other transaction, unless and until it deems further disclosure is appropriate.
The Rights Plan will reduce the likelihood that any person or group gains control of the Company through open market accumulation, or other coercive tactics potentially disadvantaging the interests of all stockholders, without paying all stockholders an appropriate control premium or providing the Board sufficient time to make informed decisions in the best interest of all stockholders. The Rights Plan is not intended to interfere with any transaction that the Board determines to be in the best interests of stockholders, nor does the Rights Plan prevent the Board from considering any proposal, but is intended to encourage anyone seeking to acquire the Company, including Lockheed Martin, to negotiate with the Board prior to attempting to impose a transaction that is not in the best interests of the Company’s stockholders.
The stocks have a year to date performance of 3.51 percent and weekly performance of 15.69 percent. The stock has been moved at -3.28 percent over the last six months. The stock has performed 45.48 percent around the most recent 30 days and changed 45.68 percent over the most recent 3-months.
If compared to the average trading volume of 3.81M shares, LLAP reached to a volume of 15646791 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Terran Orbital Corp [LLAP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LLAP shares is $3.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LLAP stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Terran Orbital Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 28, 2023, representing the official price target for Terran Orbital Corp stock. Previously, the target price had yet another drop from $7 to $1.35, while BofA Securities kept a Underperform rating on LLAP stock.
The Average True Range (ATR) for Terran Orbital Corp is set at 0.09, with the Price to Sales ratio for LLAP stock in the period of the last 12 months amounting to 1.68.
LLAP stock trade performance evaluation
Terran Orbital Corp [LLAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.69. With this latest performance, LLAP shares gained by 45.48% in over the last four-week period, additionally sinking by -3.28% over the last 6 months – not to mention a drop of -50.42% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LLAP stock in for the last two-week period is set at 69.48, with the RSI for the last a single of trading hit 77.14, and the three-weeks RSI is set at 63.98 for Terran Orbital Corp [LLAP]. The present Moving Average for the last 50 days of trading for this stock 0.9601, while it was recorded at 1.0880 for the last single week of trading, and 1.0952 for the last 200 days.
Terran Orbital Corp [LLAP]: An insightful look at the core fundamentals
Terran Orbital Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 1.43.
Earnings per share (EPS) analysis for Terran Orbital Corp [LLAP] stock
With the latest financial reports released by the company, Terran Orbital Corp posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LLAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Terran Orbital Corp go to 28.00%.
Terran Orbital Corp [LLAP]: Institutional Ownership
The top three institutional holders of LLAP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LLAP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LLAP stock with ownership which is approximately 5.8325%.
