Bae Systems PLC (OTCMKTS:BAESY) Shares Shorted: Short Interest Up 51.5% in September

Key Points

• BAESY short interest rose 51.5% in September to 62,843 shares, though short interest remains just 0.0% of shares outstanding and represents 0.2 days of average trading volume.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Hold” and an average price target of $113.00; ratings include two Buys and six Holds.
• BAESY opened at $103.63, below its 50-day and 200-day moving averages of $111.02 and $109.31, respectively, while institutional investors own approximately 0.21% of the stock.

Bae Systems PLC (OTCMKTS:BAESY - Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 62,843 shares, a growth of 51.5% from the August 31st total of 41,486 shares. Based on an average daily volume of 356,074 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

BAESY has been the subject of several research reports. BNP Paribas Exane assumed coverage on shares of Bae Systems in a research report on Thursday, September 10th. They issued a "neutral" rating and a $113.00 price target for the company. Kepler Capital Markets upgraded shares of Bae Systems from a "hold" rating to a "buy" rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Bae Systems in a report on Tuesday, August 11th. Morgan Stanley reiterated an "overweight" rating on shares of Bae Systems in a research note on Thursday, June 25th. Finally, Erste Group Bank cut Bae Systems from a "buy" rating to a "hold" rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $113.00.

Institutional Trading of Bae Systems

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Bae Systems by 2.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,969 shares of the aerospace company's stock valued at $389,000 after buying an additional 96 shares in the last quarter. Confluence Investment Management LLC lifted its position in Bae Systems by 0.9% in the 2nd quarter. Confluence Investment Management LLC now owns 13,420 shares of the aerospace company's stock worth $1,314,000 after buying an additional 115 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Bae Systems by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,690 shares of the aerospace company's stock valued at $157,000 after purchasing an additional 140 shares in the last quarter. First Merchants Corp lifted its stake in Bae Systems by 1.3% in the first quarter. First Merchants Corp now owns 68,422 shares of the aerospace company's stock valued at $7,940,000 after acquiring an additional 854 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in Bae Systems by 2.6% in the fourth quarter. Sit Investment Associates Inc. now owns 35,476 shares of the aerospace company's stock worth $3,295,000 after purchasing an additional 910 shares in the last quarter. 0.21% of the stock is currently owned by institutional investors.

Bae Systems Stock Performance

Shares of BAESY stock opened at $103.63 on Thursday. The company's fifty day simple moving average is $111.02 and its 200-day simple moving average is $109.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.87. Bae Systems has a 52 week low of $84.50 and a 52 week high of $126.00.

Bae Systems Company Profile

BAE Systems plc is a multinational defense, aerospace and security company headquartered in the United Kingdom. The company develops and supports technology and equipment for governments, armed forces and commercial customers, with activities spanning air, land, sea, space and cyber domains.

Its products and services include combat aircraft and aircraft support, naval vessels and submarines, armored vehicles, artillery systems, electronic warfare and radar equipment, intelligence and cybersecurity solutions, precision weapons, and command-and-control systems.

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