Short Interest in TAT Technologies Ltd. (NASDAQ:TATT) Grows By 29.6%

TAT Technologies Ltd. (NASDAQ:TATT) saw a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 149,559 shares, an increase of 29.6% from the January 29th total of 115,406 shares. Based on an average daily volume of 125,204 shares, the short-interest ratio is presently 1.2 days. Currently, 1.3% of the company’s stock are short sold. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 125,204 shares, the short-interest ratio is presently 1.2 days.

TAT Technologies Stock Performance

NASDAQ:TATT traded up $1.50 during trading hours on Monday, reaching $56.87. 40,191 shares of the company’s stock were exchanged, compared to its average volume of 133,513. TAT Technologies has a 1-year low of $23.37 and a 1-year high of $57.99. The company has a quick ratio of 2.34, a current ratio of 4.44 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $714.34 million, a price-to-earnings ratio of 42.71 and a beta of 0.93. The company has a 50-day moving average of $50.32 and a 200 day moving average of $43.30.

Hedge Funds Weigh In On TAT Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Greenline Wealth Management LLC purchased a new stake in TAT Technologies during the 4th quarter valued at approximately $41,000. Royal Bank of Canada increased its holdings in shares of TAT Technologies by 978.8% in 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. purchased a new stake in shares of TAT Technologies during the third quarter worth approximately $53,000. Quantbot Technologies LP acquired a new stake in shares of TAT Technologies during the third quarter worth $121,000. Finally, Osaic Holdings Inc. grew its position in TAT Technologies by 470.9% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 15.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TATT shares. Truist Financial dropped their price target on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Zacks Research raised shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of TAT Technologies in a research report on Monday, December 29th. Lake Street Capital restated a “buy” rating and issued a $59.00 price objective on shares of TAT Technologies in a research note on Wednesday, February 4th. Finally, Loop Capital set a $53.00 target price on TAT Technologies in a research report on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, TAT Technologies presently has an average rating of “Buy” and a consensus price target of $53.17.

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.