Short Interest in TAT Technologies Ltd. (NASDAQ:TATT) Drops By 18.8%

TAT Technologies Ltd. (NASDAQ:TATT) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 18,100 shares, a drop of 18.8% from the October 15th total of 22,300 shares. Based on an average daily trading volume, of 15,900 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TAT Technologies stock. Meitav Investment House Ltd. grew its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 136.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 969,062 shares of the aerospace company’s stock after purchasing an additional 559,062 shares during the quarter. Meitav Investment House Ltd. owned about 9.59% of TAT Technologies worth $17,762,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered TAT Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 18th.

TAT Technologies Stock Down 7.1 %

TAT Technologies stock traded down $1.57 during midday trading on Friday, reaching $20.61. The stock had a trading volume of 44,361 shares, compared to its average volume of 23,752. The firm’s fifty day simple moving average is $18.14 and its 200-day simple moving average is $15.74. TAT Technologies has a 1-year low of $9.08 and a 1-year high of $23.00. The stock has a market capitalization of $208.16 million, a P/E ratio of 28.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.09 and a current ratio of 2.60.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings results on Wednesday, August 28th. The aerospace company reported $0.25 earnings per share for the quarter. The firm had revenue of $36.53 million for the quarter. TAT Technologies had a return on equity of 8.09% and a net margin of 5.49%.

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.