Short Interest in TAT Technologies Ltd. (NASDAQ:TATT) Drops By 39.0%

TAT Technologies Ltd. (NASDAQ:TATT) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 16,300 shares, a decrease of 39.0% from the December 31st total of 26,700 shares. Based on an average daily volume of 34,800 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On TAT Technologies

A hedge fund recently raised its stake in TAT Technologies stock. JPMorgan Chase & Co. increased its position in TAT Technologies Ltd. (NASDAQ:TATT) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,893 shares of the aerospace company’s stock after acquiring an additional 2,697 shares during the quarter. JPMorgan Chase & Co. owned about 0.14% of TAT Technologies worth $253,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

TAT Technologies Price Performance

TATT stock traded up $1.81 on Wednesday, hitting $32.11. 117,743 shares of the company’s stock traded hands, compared to its average volume of 62,347. The stock has a fifty day moving average of $25.81 and a 200-day moving average of $19.99. TAT Technologies has a 1-year low of $10.51 and a 1-year high of $33.37. The company has a current ratio of 3.04, a quick ratio of 1.29 and a debt-to-equity ratio of 0.10. The stock has a market cap of $324.31 million, a price-to-earnings ratio of 43.39 and a beta of 0.92.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark initiated coverage on shares of TAT Technologies in a research note on Thursday, December 5th. They issued a “buy” rating and a $30.00 price target for the company. StockNews.com raised TAT Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, December 8th.

TAT Technologies Company Profile

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.