TAT Technologies Ltd. (NASDAQ:TATT) Sees Large Drop in Short Interest

TAT Technologies Ltd. (NASDAQ:TATT) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 5,700 shares, a decline of 56.5% from the August 15th total of 13,100 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 668,800 shares, the days-to-cover ratio is currently 0.0 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of TAT Technologies during the 1st quarter valued at $133,000. Marquette Asset Management LLC purchased a new position in shares of TAT Technologies during the 2nd quarter valued at $295,000. Finally, Renaissance Technologies LLC lifted its position in shares of TAT Technologies by 3.0% during the 1st quarter. Renaissance Technologies LLC now owns 249,600 shares of the aerospace company’s stock valued at $1,283,000 after buying an additional 7,300 shares during the last quarter. 5.31% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:TATT traded up $0.02 during trading on Friday, reaching $5.64. The company’s stock had a trading volume of 1,044 shares, compared to its average volume of 440,818. The company has a quick ratio of 1.60, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $6.18 and a 200-day moving average of $5.79. TAT Technologies has a 12 month low of $4.00 and a 12 month high of $10.44.

Separately, TheStreet downgraded TAT Technologies from a “c” rating to a “d+” rating in a report on Tuesday, August 10th.

About TAT Technologies

TAT Technologies Ltd. provides a variety of services and products to the commercial and military aerospace and ground defense industries. It operates through the following business segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions & Aviation Accessories; Maintenance, Repair & Overhaul Services (MRO) Services for Heat Transfer Components & OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.

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