Tata Motors Limited (NYSE:TTM) Short Interest Down 40.0% in November

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Tata Motors Limited (NYSE:TTM – Get Rating) saw a large […]

Tata Motors Limited (NYSE:TTM – Get Rating) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,720,000 shares, a drop of 40.0% from the October 31st total of 4,530,000 shares. Based on an average daily trading volume, of 738,900 shares, the short-interest ratio is presently 3.7 days.

Hedge Funds Weigh In On Tata Motors

A number of hedge funds have recently added to or reduced their stakes in TTM. Advisors Asset Management Inc. boosted its stake in Tata Motors by 74.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 570 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Tata Motors during the 3rd quarter valued at about $32,000. Captrust Financial Advisors boosted its stake in Tata Motors by 87.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,312 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares during the last quarter. Quantbot Technologies LP boosted its stake in Tata Motors by 129.2% during the 2nd quarter. Quantbot Technologies LP now owns 1,788 shares of the company’s stock valued at $46,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Guardian Wealth Advisors LLC acquired a new position in Tata Motors during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 4.05% of the company’s stock.

Tata Motors Stock Up 0.5 %

TTM stock traded up $0.13 during mid-day trading on Tuesday, reaching $26.39. 8,570 shares of the company traded hands, compared to its average volume of 691,893. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of -18.24 and a beta of 1.68. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.05. Tata Motors has a fifty-two week low of $22.92 and a fifty-two week high of $35.08. The firm’s 50 day moving average price is $25.23 and its 200 day moving average price is $26.94.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Tata Motors in a research note on Thursday, October 6th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. downgraded Tata Motors from an “overweight” rating to a “neutral” rating in a research note on Monday, October 10th. Finally, StockNews.com upgraded Tata Motors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Tata Motors has a consensus rating of “Hold”.

About Tata Motors

(Get Rating)

Tata Motors Limited designs, develops, manufactures, and sells various automotive vehicles. The company offers passenger cars; sports utility vehicles; intermediate and light commercial vehicles; small, medium, and heavy commercial vehicles; defense vehicles; pickups, wingers, buses, and trucks; and electric vehicles, as well as related spare parts and accessories.

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