Short Interest in Bae Systems PLC (OTCMKTS:BAESY) Declines By 36.9%

Key Points

• Short interest in BAE Systems fell 36.9% to 40,428 shares as of August 14, representing 0.0% of shares outstanding and a very low 0.2-day days-to-cover ratio.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and five rate it a Hold, resulting in an overall “Hold” consensus. Recent actions included upgrades from Kepler Capital Markets and a downgrade from Erste Group Bank.
• BAESY opened at $110.24, compared with a 52-week range of $84.50 to $126.00. Institutional investors own a limited 0.21% stake, despite several funds recently initiating or increasing positions.

Bae Systems PLC (OTCMKTS:BAESY - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 40,428 shares, a drop of 36.9% from the July 30th total of 64,060 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 257,718 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BAESY. Kepler Capital Markets upgraded Bae Systems from a "hold" rating to a "buy" rating in a report on Wednesday, June 24th. Royal Bank Of Canada began coverage on shares of Bae Systems in a research report on Tuesday, August 11th. They issued a "sector perform" rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Bae Systems in a research 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 downgraded Bae Systems from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Bae Systems Price Performance

Shares of BAESY stock opened at $110.24 on Monday. Bae Systems has a one year low of $84.50 and a one year high of $126.00. The company has a quick ratio of 0.87, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $108.27 and a 200 day moving average price of $110.83.

Hedge Funds Weigh In On Bae Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlas Capital Advisors Inc. bought a new stake in Bae Systems in the fourth quarter valued at about $98,000. PNC Financial Services Group Inc. lifted its stake in Bae Systems by 9.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,690 shares of the aerospace company's stock worth $157,000 after purchasing an additional 140 shares during the period. Riverbridge Partners LLC bought a new position in Bae Systems during the first quarter worth about $221,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Bae Systems during the first quarter valued at approximately $307,000. Finally, HighPoint Advisor Group LLC grew its stake in shares of Bae Systems by 30.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,821 shares of the aerospace company's stock valued at $355,000 after purchasing an additional 883 shares during the period. 0.21% of the stock is owned by institutional investors.

Bae Systems Company Profile

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.

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