Tata Motors Ltd. (TTM) Short Interest Update
Tata Motors Ltd. (NYSE:TTM) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 5,794,896 shares, a decrease of 26.0% from the August 31st total of 7,831,970 shares. Based on an average daily volume of 1,822,328 shares, the short-interest ratio is currently 3.2 days.
Tata Motors (NYSE:TTM) opened at 39.98 on Monday. The company has a market capitalization of $27.15 billion, a P/E ratio of 22.46 and a beta of 2.73. Tata Motors has a 12-month low of $20.00 and a 12-month high of $44.79. The stock’s 50 day moving average is $40.43 and its 200-day moving average is $34.44.
A number of brokerages have weighed in on TTM. Sanford C. Bernstein downgraded shares of Tata Motors from an “outperform” rating to a “market perform” rating in a report on Friday, September 9th. Zacks Investment Research raised shares of Tata Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Thursday, September 1st. Finally, Credit Suisse Group AG downgraded shares of Tata Motors from an “outperform” rating to a “neutral” rating in a report on Monday, June 27th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $37.99.
Several hedge funds have recently bought and sold shares of TTM. Commonwealth Equity Services Inc increased its stake in Tata Motors by 11.3% in the first quarter. Commonwealth Equity Services Inc now owns 18,081 shares of the company’s stock worth $525,000 after buying an additional 1,840 shares during the period. Pacad Investment Ltd. acquired a new stake in Tata Motors during the first quarter worth about $604,000. Prudential Financial Inc. increased its stake in Tata Motors by 8.7% in the first quarter. Prudential Financial Inc. now owns 727,100 shares of the company’s stock worth $21,122,000 after buying an additional 58,400 shares during the period. Mckinley Capital Management LLC Delaware increased its stake in Tata Motors by 30.2% in the first quarter. Mckinley Capital Management LLC Delaware now owns 27,723 shares of the company’s stock worth $805,000 after buying an additional 6,427 shares during the period. Finally, BlackRock Inc. increased its stake in Tata Motors by 53.4% in the first quarter. BlackRock Inc. now owns 130,357 shares of the company’s stock worth $3,787,000 after buying an additional 45,354 shares during the period. Institutional investors own 12.18% of the company’s stock.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.
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