TAT Technologies Ltd. (NASDAQ:TATT) Short Interest Up 88.1% in June

Key Points

• Short interest in TAT Technologies jumped 88.1% in June, reaching 715,232 shares, or about 6.0% of the float. The stock’s days-to-cover ratio stands at 3.1 days.
• Insiders have been selling shares, including COO Jason Lewandowski and insider Paul Maness, each cutting their ownership by 50% in recent transactions.
• Analysts remain broadly positive on TATT, with a consensus rating of “Buy” and an average price target of $57.29. The company also recently beat quarterly EPS and revenue estimates in its latest earnings report.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 715,232 shares, an increase of 88.1% from the May 31st total of 380,263 shares. Approximately 6.0% of the company's stock are sold short. Based on an average daily trading volume, of 229,152 shares, the days-to-cover ratio is presently 3.1 days.

Insider Buying and Selling

In other news, COO Jason Lewandowski sold 3,125 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the transaction, the chief operating officer directly owned 3,125 shares of the company's stock, valued at approximately $122,562.50. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Maness sold 5,000 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $227,050. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC increased its stake in TAT Technologies by 10.4% during the first quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company's stock valued at $382,000 after acquiring an additional 888 shares during the period. Greenline Wealth Management LLC bought a new stake in shares of TAT Technologies during the fourth quarter valued at approximately $41,000. Royal Bank of Canada increased its position in shares of TAT Technologies by 978.8% during the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company's stock valued at $50,000 after purchasing an additional 1,018 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of TAT Technologies in the third quarter valued at $53,000. Finally, Fred Alger Management LLC raised its stake in shares of TAT Technologies by 12.4% in the fourth quarter. Fred Alger Management LLC now owns 11,640 shares of the aerospace company's stock valued at $520,000 after purchasing an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on TAT Technologies from $47.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Weiss Ratings downgraded TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, June 15th. Benchmark lifted their price target on shares of TAT Technologies from $58.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. B. Riley Financial initiated coverage on shares of TAT Technologies in a research note on Wednesday, April 8th. They issued a "buy" rating and a $61.00 price objective for the company. Finally, Zacks Research raised shares of TAT Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $57.29.

TAT Technologies Stock Performance

Shares of TATT stock traded down $0.12 during trading hours on Wednesday, reaching $48.11. 153,239 shares of the company's stock were exchanged, compared to its average volume of 199,352. TAT Technologies has a fifty-two week low of $29.30 and a fifty-two week high of $64.50. The company has a quick ratio of 2.46, a current ratio of 4.69 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $624.47 million, a P/E ratio of 37.29 and a beta of 1.00. The business has a fifty day moving average price of $39.94 and a 200-day moving average price of $45.61.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.07. The business had revenue of $41.15 million for the quarter, compared to the consensus estimate of $40.25 million. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. Analysts predict that TAT Technologies will post 1.52 EPS for the current fiscal year.

TAT Technologies Company Profile

TAT Technologies Ltd. is a global provider of environmental control and thermal management solutions for the aerospace industry. The company specializes in the design, manufacturing and support of aircraft environmental control systems (ECS), heat exchangers and related components. Its product portfolio serves commercial and military airframers, engine manufacturers and airlines, offering critical systems that regulate cabin pressure, temperature and ventilation on fixed-wing and rotary aircraft.

Key offerings include air cycle machines, preconditioned air units, steam/water separators and specialty heat exchangers engineered to meet stringent aerospace standards.

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