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

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

TAT Technologies Price Performance

Shares of TATT traded down $1.57 during mid-day trading on Friday, hitting $20.61. The company’s stock had a trading volume of 44,361 shares, compared to its average volume of 13,788. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.60 and a quick ratio of 1.09. The firm has a 50-day moving average price of $18.14 and a 200 day moving average price of $15.71. TAT Technologies has a fifty-two week low of $9.08 and a fifty-two week high of $23.00. The stock has a market capitalization of $208.22 million, a price-to-earnings ratio of 28.63 and a beta of 0.88.

TAT Technologies (NASDAQ:TATT) last issued its 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 during the quarter. TAT Technologies had a net margin of 5.49% and a return on equity of 8.09%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On TAT Technologies

A hedge fund recently raised its stake in TAT Technologies stock. Meitav Investment House Ltd. grew its stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) by 136.4% in the 3rd quarter, according to the company in its most recent Form 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 period. Meitav Investment House Ltd. owned about 9.59% of TAT Technologies worth $17,762,000 as of its most recent SEC filing. 15.13% of the stock is currently owned by institutional investors and hedge funds.

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.