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

TAT Technologies Ltd. (NASDAQ:TATT) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 23,700 shares, a growth of 200.0% from the January 15th total of 7,900 shares. Based on an average daily volume of 52,800 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Investors Weigh In On TAT Technologies

Large investors have recently modified their holdings of the stock. Meitav Investment House Ltd. raised its position in TAT Technologies by 136.4% in the third quarter. Meitav Investment House Ltd. now owns 969,062 shares of the aerospace company’s stock worth $17,762,000 after acquiring an additional 559,062 shares in the last quarter. JPMorgan Chase & Co. raised its position in TAT Technologies by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 13,893 shares of the aerospace company’s stock worth $253,000 after acquiring an additional 2,697 shares in the last quarter. IFP Advisors Inc purchased a new position in TAT Technologies in the fourth quarter worth $50,000. Morgan Dempsey Capital Management LLC purchased a new position in TAT Technologies in the fourth quarter worth $103,000. Finally, Arrowstreet Capital Limited Partnership raised its position in TAT Technologies by 142.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 39,109 shares of the aerospace company’s stock worth $1,019,000 after acquiring an additional 22,987 shares in the last quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

TAT Technologies Stock Performance

NASDAQ TATT traded down $0.14 on Wednesday, reaching $28.40. The stock had a trading volume of 45,678 shares, compared to its average volume of 61,746. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.29 and a current ratio of 3.04. TAT Technologies has a 12-month low of $10.51 and a 12-month high of $33.37. The business’s 50-day moving average price is $27.39 and its 200 day moving average price is $21.09. The stock has a market cap of $310.70 million, a P/E ratio of 38.38 and a beta of 0.94.

Analysts Set New Price Targets

TATT has been the subject of a number of analyst reports. StockNews.com raised TAT Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, December 8th. Benchmark initiated coverage on TAT Technologies in a research report on Thursday, December 5th. They set a “buy” rating and a $30.00 price objective for the company.

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.