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

Key Points

• Short interest jumped 34% in March to 225,083 shares (about 1.9% of shares sold short) with a days-to-cover ratio of 0.8, signaling increased bearish positioning.
• Institutional inflows accelerated — Wasatch Advisors grew its stake to 781,216 shares (+143%) and Penn Capital to 357,768 shares (+1,063%), and hedge funds/institutions now own 15.13% of the stock.
• Analyst and market view is broadly positive (average "Buy" rating, $57.29 target), but TAT recently missed quarterly EPS and revenue estimates and the stock traded down about 5% to $42.55.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 225,083 shares, an increase of 34.0% from the March 15th total of 167,943 shares. Based on an average daily volume of 290,328 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.9% of the company's shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its stake in shares of TAT Technologies by 143.0% during the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company's stock valued at $23,858,000 after acquiring an additional 459,693 shares in the last quarter. Penn Capital Management Company LLC grew its stake in shares of TAT Technologies by 1,063.4% during the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company's stock valued at $15,768,000 after acquiring an additional 327,015 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of TAT Technologies during the third quarter valued at about $10,150,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of TAT Technologies during the third quarter valued at about $8,869,000. Finally, Next Century Growth Investors LLC acquired a new stake in shares of TAT Technologies during the fourth quarter valued at about $5,902,000. 15.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered TAT Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. B. Riley Financial assumed coverage on TAT Technologies in a research note on Wednesday, April 8th. They set a "buy" rating and a $61.00 price target on the stock. Zacks Research raised TAT Technologies from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Benchmark increased their target price on TAT Technologies from $58.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of TAT Technologies in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $57.29.

TAT Technologies Trading Down 5.0%

Shares of TATT traded down $2.24 during trading hours on Wednesday, hitting $42.55. The stock had a trading volume of 181,616 shares, compared to its average volume of 171,518. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 4.89. The firm has a market cap of $552.30 million, a P/E ratio of 30.98 and a beta of 1.11. The company's fifty day simple moving average is $49.89 and its 200 day simple moving average is $45.84. TAT Technologies has a 12-month low of $24.56 and a 12-month high of $64.50.

TAT Technologies (NASDAQ:TATT - Get Free Report) last issued its earnings results on Wednesday, March 18th. The aerospace company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $46.53 million during the quarter, compared to analysts' expectations of $48.04 million. TAT Technologies had a return on equity of 10.69% and a net margin of 9.45%.

About TAT Technologies

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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