Tata Motors Limited (NYSE:TTM) Short Interest Update

Tata Motors Limited (NYSE:TTM) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 5,821,200 shares, an increase of 28.7% from the July 31st total of 4,523,600 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 3.9 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Tata Motors during the 2nd quarter worth $26,000. Cornerstone Advisors Inc. boosted its stake in shares of Tata Motors by 137.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,520 shares of the company’s stock worth $32,000 after acquiring an additional 1,459 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Tata Motors during the 2nd quarter worth $39,000. Quantamental Technologies LLC bought a new stake in shares of Tata Motors during the 1st quarter worth $46,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Tata Motors during the 2nd quarter worth $59,000. 6.04% of the stock is owned by institutional investors and hedge funds.

NYSE TTM traded up $0.08 on Friday, reaching $9.16. 1,273,600 shares of the stock traded hands, compared to its average volume of 1,628,468. The firm’s fifty day simple moving average is $8.73 and its 200 day simple moving average is $12.01. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 45.80, a P/E/G ratio of -2.89 and a beta of 1.49. Tata Motors has a 12 month low of $7.38 and a 12 month high of $18.36.

Tata Motors (NYSE:TTM) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.78) earnings per share (EPS) for the quarter. The firm had revenue of $8.95 billion for the quarter. Tata Motors had a negative net margin of 10.13% and a negative return on equity of 4.54%. As a group, equities research analysts forecast that Tata Motors will post 0.97 EPS for the current fiscal year.

TTM has been the subject of a number of research reports. Zacks Investment Research lowered Tata Motors from a “buy” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. ValuEngine lowered Tata Motors from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $17.00.

About Tata Motors

Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.

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