BOCA RATON, Fla. - Terran Orbital Corporation (NYSE: LLAP), a prominent satellite manufacturer for the aerospace and defense sectors, announced today that it has returned to compliance with the New York Stock Exchange's (NYSE) minimum stock price requirement. This development follows a previous notice of noncompliance due to the company's stock price falling below the $1.00 threshold.
The NYSE had previously flagged Terran Orbital for noncompliance because its average closing stock price was below $1.00 over a 30-day trading period that ended on October 18, 2023. However, as of March 28, 2024, the company's stock closed above the $1.00 mark and maintained the required average over the subsequent 30 trading days, leading to the NYSE's decision to remove Terran Orbital from its list of noncompliant issuers.
Terran Orbital specializes in the production of satellite products and offers comprehensive solutions that include design, production, launch coordination, mission operations, and on-orbit support. These services cater to the stringent demands of military, civil, and commercial clients.
The information in this article is based on a press release statement from Terran Orbital.
InvestingPro Insights
As Terran Orbital Corporation (NYSE: LLAP) regains compliance with the NYSE's minimum stock price requirement, it's important for investors to consider the broader financial context in which the company operates. InvestingPro data reveals a mixed financial landscape for Terran Orbital. With a market capitalization of $264.47 million, the company has experienced robust revenue growth over the last twelve months as of Q3 2023, at an impressive rate of 86.47%. This growth momentum is also reflected in the quarterly figures, with a 57.69% increase in revenue in Q3 2023.
Despite these promising growth metrics, Terran Orbital's financial health is not without its challenges. The company's gross profit margin stands at -2.78%, indicating that it is currently not generating a profit from its revenues. Moreover, the company has a negative P/E ratio of -1.95, which suggests that investors are wary about its profitability prospects. This is further substantiated by one of the InvestingPro Tips, which points out that analysts do not anticipate the company will be profitable this year.
On the stock performance front, Terran Orbital has seen a significant return over the last week, with a 14.29% price total return, and an even more notable six-month price total return of 70.04%. These figures are particularly relevant for investors looking for recent performance trends. However, another InvestingPro Tip cautions that the stock generally trades with high price volatility, which could be a consideration for risk-averse investors.
For those interested in a deeper analysis, there are additional InvestingPro Tips available that can provide further insights into Terran Orbital's financial health and stock performance. These tips can be accessed through the InvestingPro platform, offering a comprehensive suite of tools for informed investment decisions. For a limited time, users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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