Bae Systems (OTCMKTS:BAESY) Shares Gap Down - Here's What Happened

Key Points

• Bae Systems shares experienced a significant gap down, opening at $93.55 from a previous close of $97.49, with trading volume reaching 45,508 shares.
• Recent analyst activity includes upgrades from Jefferies and Bank of America to a "buy" rating, while the consensus rating remains at "Hold" with one analyst issuing a sell rating.
• Several institutional investors have dramatically increased their positions in Bae Systems, with GAMMA Investing LLC raising its stake by 10,259.0% in the first quarter.

Bae Systems PLC (OTCMKTS:BAESY - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $97.49, but opened at $93.55. Bae Systems shares last traded at $93.49, with a volume of 45,508 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Bae Systems in a research note on Monday, April 28th. Kepler Capital Markets lowered Bae Systems from a "hold" rating to a "reduce" rating in a research report on Monday, July 7th. Jefferies Financial Group raised Bae Systems from a "hold" rating to a "buy" rating in a research report on Friday, August 1st. Finally, Bank of America raised Bae Systems from an "underperform" rating to a "buy" rating in a research report on Tuesday, June 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold".

Bae Systems Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.95. The business has a fifty day simple moving average of $100.17 and a 200 day simple moving average of $91.49.

Institutional Trading of Bae Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Bae Systems by 10,259.0% during the 1st quarter. GAMMA Investing LLC now owns 185,840 shares of the aerospace company's stock worth $15,282,000 after purchasing an additional 184,046 shares in the last quarter. Ramirez Asset Management Inc. increased its holdings in Bae Systems by 2.9% during the 2nd quarter. Ramirez Asset Management Inc. now owns 68,509 shares of the aerospace company's stock worth $7,084,000 after purchasing an additional 1,954 shares in the last quarter. First Merchants Corp increased its holdings in Bae Systems by 9.0% during the 2nd quarter. First Merchants Corp now owns 62,252 shares of the aerospace company's stock worth $6,437,000 after purchasing an additional 5,144 shares in the last quarter. L & S Advisors Inc increased its holdings in Bae Systems by 27.2% during the 2nd quarter. L & S Advisors Inc now owns 16,669 shares of the aerospace company's stock worth $1,751,000 after purchasing an additional 3,562 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Bae Systems by 3.9% during the 2nd quarter. Confluence Investment Management LLC now owns 11,413 shares of the aerospace company's stock worth $1,199,000 after purchasing an additional 427 shares in the last quarter. 0.21% of the stock is owned by institutional investors.

Bae Systems Company Profile

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.