Tata Motors (NYSE:TTM) Shares Gap Down to $26.81

Tata Motors Limited (NYSE:TTM – Get Rating)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $26.81, but opened at $25.09. Tata Motors shares last traded at $24.85, with a volume of 3,155 shares changing hands.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Tata Motors in a report on Thursday, February 17th. They issued an “overweight” rating on the stock. StockNews.com initiated coverage on Tata Motors in a research report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

The firm has a fifty day moving average of $27.51 and a 200 day moving average of $29.79. The stock has a market cap of $15.17 billion, a PE ratio of -13.34 and a beta of 1.84. The company has a quick ratio of 0.74, a current ratio of 0.98 and a debt-to-equity ratio of 2.00.

A number of hedge funds have recently modified their holdings of TTM. Goldman Sachs Group Inc. grew its position in shares of Tata Motors by 64.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,948,305 shares of the company’s stock valued at $54,456,000 after buying an additional 764,250 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in shares of Tata Motors in the fourth quarter worth about $23,649,000. Millennium Management LLC grew its position in Tata Motors by 112.9% during the fourth quarter. Millennium Management LLC now owns 1,083,325 shares of the company’s stock worth $34,764,000 after buying an additional 574,384 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tata Motors by 68.3% during the first quarter. JPMorgan Chase & Co. now owns 1,383,137 shares of the company’s stock worth $38,659,000 after buying an additional 561,552 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Tata Motors by 154.1% during the fourth quarter. Renaissance Technologies LLC now owns 473,200 shares of the company’s stock valued at $15,185,000 after purchasing an additional 287,000 shares in the last quarter.

About Tata Motors (NYSE:TTM)

Tata Motors Limited designs, develops, manufactures, and sells various automotive vehicles. The company offers passenger cars; 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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• Get a free copy of the StockNews.com research report on Tata Motors (TTM)
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