Tata Motors Limited (NYSE:TTM) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 5,821,200 shares, a growth of 28.7% from the July 31st total of 4,523,600 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 3.9 days.
TTM has been the subject of a number of analyst reports. ValuEngine downgraded Tata Motors from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Zacks Investment Research downgraded Tata Motors from a “buy” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its stake in Tata Motors by 137.5% during the first quarter. Cornerstone Advisors Inc. now owns 2,520 shares of the company’s stock valued at $32,000 after buying an additional 1,459 shares in the last quarter. Greenleaf Trust raised its stake in Tata Motors by 16.0% during the second quarter. Greenleaf Trust now owns 15,313 shares of the company’s stock valued at $179,000 after buying an additional 2,107 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Tata Motors during the second quarter valued at approximately $26,000. Nordea Investment Management AB raised its stake in Tata Motors by 28.5% during the first quarter. Nordea Investment Management AB now owns 10,092 shares of the company’s stock valued at $127,000 after buying an additional 2,237 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in Tata Motors by 10.2% during the first quarter. Wetherby Asset Management Inc. now owns 29,866 shares of the company’s stock valued at $375,000 after buying an additional 2,762 shares in the last quarter. Hedge funds and other institutional investors own 6.04% of the company’s stock.
NYSE TTM traded up $0.08 on Friday, hitting $9.16. 1,273,600 shares of the stock traded hands, compared to its average volume of 1,628,468. The stock has a 50-day moving average of $8.73 and a 200 day moving average of $12.01. Tata Motors has a twelve month low of $7.38 and a twelve month high of $18.36. The company has a market capitalization of $6.27 billion, a P/E ratio of 45.80, a price-to-earnings-growth ratio of -2.89 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27.
Tata Motors (NYSE:TTM) last announced its quarterly earnings data on Thursday, July 25th. The company reported ($0.78) earnings per share (EPS) for the quarter. Tata Motors had a negative net margin of 10.13% and a negative return on equity of 4.54%. The firm had revenue of $8.95 billion for the quarter. As a group, equities research analysts expect that Tata Motors will post 0.97 earnings per share for the current year.
Tata Motors Company Profile
Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.
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