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

TAT Technologies Ltd. (NASDAQ:TATT) was the recipient of a significant 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 short-interest ratio is presently 1.1 days. Currently, 0.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

TAT Technologies Trading Down 7.1 %

TATT traded down $1.57 during midday trading on Friday, reaching $20.61. 44,361 shares of the company were exchanged, compared to its average volume of 23,752. 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 has a one year low of $9.08 and a one 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 stock’s 50-day simple moving average is $18.14 and its 200 day simple moving average is $15.74.

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

Hedge Funds Weigh In On TAT Technologies

An institutional investor recently bought a new position in TAT Technologies stock. Y.D. More Investments Ltd acquired a new stake in shares of TAT Technologies Ltd. (NASDAQ:TATT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 87,756 shares of the aerospace company’s stock, valued at approximately $1,312,000. Y.D. More Investments Ltd owned approximately 0.87% of TAT Technologies at the end of the most recent reporting period. 15.13% of the stock is owned by institutional investors and hedge funds.

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.