TAT Technologies Ltd. (NASDAQ:TATT) Sees Significant Drop in Short Interest

TAT Technologies Ltd. (NASDAQ:TATT) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 115,406 shares, a decrease of 14.6% from the January 15th total of 135,083 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 123,697 shares, the days-to-cover ratio is presently 0.9 days. Based on an average trading volume of 123,697 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts recently commented on TATT shares. Wall Street Zen raised TAT Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Truist Financial dropped their price objective on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Stifel Nicolaus raised their target price on shares of TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TAT Technologies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $53.17.

Institutional Investors Weigh In On TAT Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC acquired a new position in shares of TAT Technologies in the 4th quarter valued at $41,000. Royal Bank of Canada raised its holdings in TAT Technologies by 978.8% in the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after buying an additional 1,018 shares during the period. PNC Financial Services Group Inc. acquired a new position in TAT Technologies in the third quarter valued at about $53,000. Morgan Dempsey Capital Management LLC lifted its position in TAT Technologies by 17.2% in the third quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after buying an additional 1,249 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in TAT Technologies by 12.4% during the fourth quarter. Fred Alger Management LLC now owns 11,640 shares of the aerospace company’s stock worth $520,000 after buying an additional 1,280 shares during the period. Institutional investors and hedge funds own 15.13% of the company’s stock.

TAT Technologies Trading Up 1.7%

NASDAQ:TATT traded up $0.86 on Wednesday, hitting $52.10. The stock had a trading volume of 46,218 shares, compared to its average volume of 146,526. The company has a fifty day moving average price of $47.94 and a two-hundred day moving average price of $42.27. TAT Technologies has a 1-year low of $23.37 and a 1-year high of $54.80. 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 stock has a market cap of $654.38 million, a price-to-earnings ratio of 39.23 and a beta of 0.93.

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.