Short Interest in TAT Technologies Ltd. (NASDAQ:TATT) Grows By 34.0%

TAT Technologies Ltd. (NASDAQ:TATT) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 225,083 shares, a growth of 34.0% from the March 15th total of 167,943 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 290,328 shares, the short-interest ratio is presently 0.8 days.

TAT Technologies Trading Up 2.9%

Shares of TAT Technologies stock traded up $1.20 during trading on Friday, hitting $41.81. The stock had a trading volume of 99,302 shares, compared to its average volume of 172,501. The stock has a market cap of $542.75 million, a PE ratio of 30.51 and a beta of 1.11. TAT Technologies has a 12 month low of $24.56 and a 12 month high of $64.50. The firm’s fifty day simple moving average is $49.68 and its 200-day simple moving average is $45.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.89 and a quick ratio of 2.67.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings results on Wednesday, March 18th. The aerospace company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company 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%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TATT. Wasatch Advisors LP increased its stake in TAT Technologies by 143.0% in the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock worth $23,858,000 after buying an additional 459,693 shares during the period. Penn Capital Management Company LLC increased its stake in TAT Technologies by 1,063.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock worth $15,768,000 after buying an additional 327,015 shares during the period. New York State Common Retirement Fund purchased a new position in TAT Technologies in the 3rd quarter worth about $10,150,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in TAT Technologies in the 3rd quarter worth about $8,869,000. Finally, Next Century Growth Investors LLC purchased a new position in TAT Technologies in the 4th quarter worth about $5,902,000. Hedge funds and other institutional investors own 15.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of TAT Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research cut shares of TAT Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday. Freedom Capital upgraded shares of TAT Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Benchmark upped their target price on shares of 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 restated a “buy (b)” rating on shares of TAT Technologies in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, TAT Technologies presently has an average rating of “Buy” and a consensus target price of $57.29.

TAT Technologies Company Profile

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.