Bae Systems PLC (OTCMKTS:BAESY) Stock Short Interest Declines 71.5%

Key Points

• Short interest fell 71.5% to 14,846 shares as of October 30, down from 52,004 shares on October 15; about 0.0% of shares were sold short.
• Analyst sentiment is broadly neutral: MarketBeat reports a consensus “Hold” rating and a $113 target price, with two Buy ratings and six Hold ratings.
• BAE Systems shares opened at $99.67, below their 50-day average of $104.26 and 200-day average of $109.02; the stock’s one-year range is $84.50 to $126.00.

Bae Systems PLC (OTCMKTS:BAESY - Get Free Report) was the recipient of a large decrease in short interest in October. As of October 30th, there was short interest totaling 14,846 shares, a decrease of 71.5% from the October 15th total of 52,004 shares. Based on an average daily trading volume, of 317,585 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BAESY shares. BNP Paribas Exane assumed coverage on Bae Systems in a report on Thursday, September 10th. They set a "neutral" rating and a $113.00 target price for the company. Deutsche Bank reaffirmed a "hold" rating on shares of Bae Systems in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada began coverage on shares of Bae Systems in a research note on Tuesday, August 11th. They issued a "sector perform" rating for the company. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.00.

Bae Systems Stock Performance

Bae Systems stock opened at $99.67 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 1.02. The stock's fifty day moving average price is $104.26 and its two-hundred day moving average price is $109.02. Bae Systems has a one year low of $84.50 and a one year high of $126.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. First Command Advisory Services Inc. raised its stake in Bae Systems by 480.5% in the third quarter. First Command Advisory Services Inc. now owns 952 shares of the aerospace company's stock valued at $99,000 after purchasing an additional 788 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 during the period. PNC Financial Services Group Inc. increased its holdings in Bae Systems by 135.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,983 shares of the aerospace company's stock valued at $464,000 after buying an additional 2,293 shares during the period. Sterling Capital Management LLC raised its position in shares of Bae Systems by 1.5% in the 3rd quarter. Sterling Capital Management LLC now owns 9,230 shares of the aerospace company's stock valued at $960,000 after buying an additional 134 shares in the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Bae Systems by 0.9% in the 2nd quarter. Confluence Investment Management LLC now owns 13,420 shares of the aerospace company's stock valued at $1,314,000 after buying an additional 115 shares in the last quarter. Institutional investors own 0.21% of the company's stock.

Bae Systems Company Profile

BAE Systems plc is a global defense, aerospace and security company headquartered in the United Kingdom. It develops and supports products and services for governments and military customers, including combat aircraft, naval ships and submarines, armored vehicles, munitions, sensors and electronic warfare systems. The company also provides cybersecurity, intelligence and other technology services. Its operations span the United Kingdom, the United States, Australia, Saudi Arabia and other markets.

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