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

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

Wall Street Analyst Weigh In

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

TAT Technologies Trading Down 2.0 %

Shares of TATT stock traded down $0.53 during trading hours on Friday, hitting $25.86. 6,543 shares of the company’s stock traded hands, compared to its average volume of 17,728. The company has a quick ratio of 1.29, a current ratio of 3.04 and a debt-to-equity ratio of 0.10. TAT Technologies has a 12 month low of $10.02 and a 12 month high of $27.69. The stock has a market cap of $261.26 million, a PE ratio of 34.95 and a beta of 0.93. The stock’s 50 day simple moving average is $22.09 and its 200 day simple moving average is $17.86.

Hedge Funds Weigh In On TAT Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in TAT Technologies by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,893 shares of the aerospace company’s stock worth $253,000 after purchasing an additional 2,697 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of TAT Technologies in the 2nd quarter worth about $1,312,000. Finally, Meitav Investment House Ltd. lifted its stake in shares of TAT Technologies by 136.4% in the 3rd quarter. Meitav Investment House Ltd. now owns 969,062 shares of the aerospace company’s stock valued at $17,762,000 after purchasing an additional 559,062 shares during the period. 15.13% of the stock is owned by institutional investors and hedge funds.

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.