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Stock Alert: TAT Technologies Gains 30% On Agreement With Honeywell

TAT Technologies Ltd. (TATT) shares are rising more than 28 percent on Friday morning trade as the company announced a combined 10-year agreement with Honeywell International Inc. (HON) to support the global maintenance, repair, and overhaul or MRO activities.

Currently, the shares are at $5.19, up 30 percent from its previous close of $4.00. For the 52-week period, the shares have traded in a range of $3.00 to $7.41 on an average volume of 52,706.

On September 15, TATT had reported a second-quarter net loss of $2.2 million or $0.3 per share, compared to profit of $0.13 million or $0.02 per share a year ago. The company has noted that the commercial aviation industry suffered greatly from the impact of the COVID-19 pandemic. Revenue for the second quarter had declined to $17.3 million from $25 million a year ago.

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