TAT Technologies Ltd. (NASDAQ:TATT) Short Interest Up 88.1% in June

TAT Technologies Ltd. (NASDAQ:TATT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 715,232 shares, a growth of 88.1% from the May 31st total of 380,263 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 229,152 shares, the days-to-cover ratio is currently 3.1 days.

Insiders Place Their Bets

In other news, COO Jason Lewandowski sold 3,125 shares of TAT Technologies stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total transaction of $122,562.50. Following the sale, the chief operating officer directly owned 3,125 shares in the company, valued at approximately $122,562.50. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Maness sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following the completion of the sale, the insider owned 5,000 shares in the company, valued at approximately $227,050. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its holdings in shares of TAT Technologies by 143.0% in the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock valued at $23,858,000 after buying an additional 459,693 shares during the period. Penn Capital Management Company LLC raised its stake in TAT Technologies by 1,063.4% during 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. Stephens Investment Management Group LLC acquired a new position in TAT Technologies in the first quarter valued at about $7,733,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of TAT Technologies by 92.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock worth $17,283,000 after acquiring an additional 185,574 shares in the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in shares of TAT Technologies during the fourth quarter worth about $5,902,000. 15.13% of the stock is currently owned by institutional investors.

TAT Technologies Trading Down 0.2%

Shares of NASDAQ TATT traded down $0.12 during mid-day trading on Wednesday, hitting $48.11. The company’s stock had a trading volume of 153,239 shares, compared to its average volume of 199,352. The stock has a market cap of $624.47 million, a price-to-earnings ratio of 37.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. TAT Technologies has a one year low of $29.30 and a one year high of $64.50. The company’s fifty day simple moving average is $39.94 and its 200-day simple moving average is $45.61.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. The business had revenue of $41.15 million during the quarter, compared to the consensus estimate of $40.25 million. On average, sell-side analysts anticipate that TAT Technologies will post 1.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. B. Riley Financial started coverage on shares of TAT Technologies in a research report on Wednesday, April 8th. They set a “buy” rating and a $61.00 price target on the stock. Weiss Ratings cut shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Zacks Research raised shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.29.

About TAT Technologies

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.