TAT Technologies Ltd. (NASDAQ:TATT) Short Interest Up 60.3% in August

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) was the recipient of a large increase in short interest in 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 company's stock are sold short. Based on an average trading volume of 177,900 shares, the short-interest ratio is currently 1.6 days. Based on an average trading volume of 177,900 shares, the short-interest ratio is currently 1.6 days. Approximately 2.6% of the company's stock are sold short.

Hedge Funds Weigh In On TAT Technologies

Several large investors have recently made changes to their positions in TATT. Virtus Fund Advisers LLC purchased a new stake in TAT Technologies during the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in TAT Technologies in the first quarter valued at approximately $45,000. Catalyst Capital Advisors LLC purchased a new stake in TAT Technologies in the first quarter valued at approximately $63,000. Osaic Holdings Inc. lifted its position in TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock valued at $166,000 after buying an additional 4,474 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC raised its holdings in TAT Technologies by 72.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock valued at $221,000 after acquiring an additional 3,050 shares in the last quarter. 15.13% of the stock is currently owned by institutional investors and hedge funds.

TAT Technologies Stock Down 0.1%

TATT traded down $0.04 during trading on Friday, hitting $41.57. The stock had a trading volume of 158,487 shares, compared to its average volume of 145,050. TAT Technologies has a twelve month low of $16.25 and a twelve month high of $42.99. The stock has a 50 day simple moving average of $35.20 and a two-hundred day simple moving average of $30.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. The company has a market capitalization of $522.33 million, a PE ratio of 34.07 and a beta of 0.78.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TATT shares. Lake Street Capital began coverage on TAT Technologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $37.00 target price for the company. Zacks Research raised TAT Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Benchmark increased their price objective on TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. Finally, Truist Financial began coverage on TAT Technologies in a report on Wednesday, June 4th. They issued a "buy" rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, TAT Technologies presently has a consensus rating of "Buy" and an average target price of $38.00.

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.