Why These Defense Stocks Are Gaining This Week

Page 9 of 9

1. TAT Technologies Ltd. (NASDAQ:TATT)

Weekly Gains: 12.80%

TAT Technologies Ltd. (NASDAQ:TATT) provides services and products for the commercial and military aerospace and ground defense sectors.

The company declared strong results for fiscal 2024 on March 26. TAT Technologies Ltd. (NASDAQ:TATT)’s annual revenue surged 34% from last year to $152.1 million. Gross profit stood at $33 million, up 47% year-over-year. Net income increased by 139% to $11.2 million.

TAT Technologies Ltd. (NASDAQ:TATT)’s shares soared 12.80% this week, with a major spike following the earnings call. It tops the chart for defense stocks that are gaining this week.

Overall, TAT Technologies Ltd. (NASDAQ:TATT) ranks first among the defense stocks that are gaining this week. While we acknowledge the potential of defense companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TATT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires 

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9