TAT Technologies Ltd. (NASDAQ:TATT) Sees Large Growth in Short Interest

TAT Technologies Ltd. (NASDAQ:TATT) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 26,700 shares, an increase of 345.0% from the November 30th total of 6,000 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 31,500 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of TAT Technologies by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,893 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 2,697 shares during the last quarter. Meitav Investment House Ltd. boosted its stake in TAT Technologies by 136.4% during the third quarter. Meitav Investment House Ltd. now owns 969,062 shares of the aerospace company’s stock worth $17,762,000 after buying an additional 559,062 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of TAT Technologies during the second quarter valued at about $1,312,000. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark started coverage on TAT Technologies in a research report on Thursday, December 5th. They issued a “buy” rating and a $30.00 price target for the company. StockNews.com raised TAT Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, December 8th.

TAT Technologies Trading Down 1.4 %

Shares of TAT Technologies stock traded down $0.36 during mid-day trading on Friday, hitting $26.03. The stock had a trading volume of 13,094 shares, compared to its average volume of 17,754. The firm has a market cap of $262.98 million, a P/E ratio of 35.18 and a beta of 0.93. The company has a quick ratio of 1.29, a current ratio of 3.04 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $22.24 and a two-hundred day moving average of $17.95. TAT Technologies has a 12-month low of $10.02 and a 12-month high of $27.69.

TAT Technologies Company Profile

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.