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 May. As of May 31st, there was short interest totalling 139,700 shares, a growth of 88.3% from the May 15th total of 74,200 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 171,000 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On TAT Technologies

A number of hedge funds have recently made changes to their positions in TATT. Roubaix Capital LLC bought a new position in shares of TAT Technologies in the first quarter worth about $5,238,000. Wasatch Advisors LP bought a new position in shares of TAT Technologies in the fourth quarter worth about $4,349,000. ARK Investment Management LLC bought a new position in shares of TAT Technologies in the first quarter worth about $1,864,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 during the period. Finally, Jane Street Group LLC boosted its stake in shares of TAT Technologies by 125.8% in the first quarter. Jane Street Group LLC now owns 32,344 shares of the aerospace company’s stock worth $889,000 after acquiring an additional 18,020 shares during the period. Institutional investors own 15.13% of the company’s stock.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $26.29 on Friday. The stock has a 50-day simple moving average of $29.23 and a two-hundred day simple moving average of $27.58. TAT Technologies has a 52-week low of $12.61 and a 52-week high of $36.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.29 and a current ratio of 3.04. The firm has a market capitalization of $330.33 million, a PE ratio of 35.53 and a beta of 0.69.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings results on Monday, May 19th. The aerospace company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. TAT Technologies had a return on equity of 8.23% and a net margin of 5.58%. The business had revenue of $42.14 million during the quarter, compared to analyst estimates of $41.70 million.

Wall Street Analyst Weigh In

Several analysts recently commented on TATT shares. Truist Financial started coverage on TAT Technologies in a report on Wednesday, June 4th. They issued a “buy” rating and a $35.00 price objective for the company. Benchmark boosted their price target on TAT Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wall Street Zen lowered TAT Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 6th.

About TAT Technologies

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.