TAT Technologies (NASDAQ:TATT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

TAT Technologies Ltd. (NASDAQ:TATT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.89 and traded as high as $36.00. TAT Technologies shares last traded at $35.88, with a volume of 49,349 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on TATT. Truist Financial started coverage on TAT Technologies in a report on Wednesday, June 4th. They issued a “buy” rating and a $35.00 target price on the stock. Wall Street Zen raised shares of TAT Technologies from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Benchmark raised their price objective on shares of TAT Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Finally, Lake Street Capital started coverage on shares of TAT Technologies in a research note on Wednesday, June 18th. They issued a “buy” rating and a $37.00 target price on the stock.

TAT Technologies Stock Performance

The stock has a market capitalization of $450.65 million, a P/E ratio of 30.67 and a beta of 0.77. The company has a quick ratio of 1.12, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $29.70 and a 200-day moving average price of $28.89.

TAT Technologies (NASDAQ:TATT) last issued its earnings results on Monday, May 19th. The aerospace company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $42.14 million during the quarter, compared to analyst estimates of $41.70 million. TAT Technologies had a return on equity of 11.90% and a net margin of 8.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC bought a new stake in TAT Technologies in the 4th quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in shares of TAT Technologies in the first quarter worth $45,000. Catalyst Capital Advisors LLC purchased a new stake in TAT Technologies during the first quarter valued at $63,000. Goldman Sachs Group Inc. purchased a new stake in TAT Technologies during the first quarter valued at $207,000. Finally, Morgan Dempsey Capital Management LLC lifted 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 during the period. Institutional investors own 15.13% of the company’s stock.

About TAT Technologies

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.