TAT Technologies Ltd. (NASDAQ:TATT) Short Interest Update

Key Points

• TAT Technologies Ltd. experienced a 60.3% increase in short interest in August, with a total of 287,300 shares sold short as of August 31st.
• Recent hedge fund activity showed significant investments in TAT Technologies, with Osaic Holdings increasing its position by 470.9% during the second quarter.
• Wall Street analysts are optimistic about TAT Technologies, with a consensus buy rating and a price target increase to $36.00 from previous estimates.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 287,300 shares, an increase of 60.3% from the August 15th total of 179,200 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 177,900 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 177,900 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.6% of the shares of the company are sold short.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtus Fund Advisers LLC acquired a new stake in shares of TAT Technologies during the 4th quarter worth approximately $29,000. Virtus Advisers LLC acquired a new stake in TAT Technologies during the 1st quarter worth $45,000. Catalyst Capital Advisors LLC acquired a new position in shares of TAT Technologies during the 1st quarter valued at about $63,000. Osaic Holdings Inc. boosted its position in shares of TAT Technologies by 470.9% during the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock valued at $166,000 after acquiring an additional 4,474 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC raised its holdings in TAT Technologies by 72.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock valued at $221,000 after buying an additional 3,050 shares during the period. 15.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TATT has been the topic of a number of research reports. Benchmark raised their price objective on shares of TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wall Street Zen raised shares of TAT Technologies from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. Lake Street Capital initiated coverage on shares of TAT Technologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price objective on the stock. Truist Financial initiated coverage on shares of TAT Technologies in a report on Wednesday, June 4th. They set a "buy" rating and a $35.00 price target on the stock. Finally, Zacks Research raised shares of TAT Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $36.00.

TAT Technologies Stock Down 0.6%

Shares of TATT opened at $36.72 on Monday. The firm has a market capitalization of $461.20 million, a P/E ratio of 30.10 and a beta of 0.78. TAT Technologies has a 12-month low of $16.25 and a 12-month high of $41.00. The company has a current ratio of 4.67, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $34.51 and a 200-day moving average price of $30.40.

TAT Technologies (NASDAQ:TATT - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%. The company had revenue of $43.10 million during the quarter, compared to analyst estimates of $43.85 million.

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.

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