Short Interest in Bae Systems PLC (OTCMKTS:BAESY) Increases By 309.7%

Key Points

• Short interest in BAE Systems surged 309.7% in July, rising to 88,467 shares from 21,594 at the end of June. Despite the jump, the days-to-cover ratio remains low at 0.2 days.
• Wall Street sentiment is mixed but slightly positive: Kepler Capital Markets upgraded the stock to buy, while Erste Group downgraded it to hold. Overall, the stock carries a Moderate Buy consensus rating.
• BAE Systems shares opened at $105.06, sitting below the 12-month high of $126.00 but above the low of $84.50. The company also has a debt-to-equity ratio of 0.60 and modest institutional ownership at 0.21%.

Bae Systems PLC (OTCMKTS:BAESY - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 88,467 shares, a growth of 309.7% from the June 30th total of 21,594 shares. Based on an average daily trading volume, of 481,336 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Kepler Capital Markets upgraded shares of Bae Systems from a "hold" rating to a "buy" rating in a research note on Wednesday, June 24th. Erste Group Bank lowered shares of Bae Systems from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Bae Systems in a research report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Bae Systems Price Performance

Shares of BAESY stock opened at $105.06 on Friday. Bae Systems has a 12 month low of $84.50 and a 12 month high of $126.00. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $101.88 and a 200-day moving average of $109.52.

Institutional Trading of Bae Systems

A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in Bae Systems by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company's stock worth $593,000 after purchasing an additional 158 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Bae Systems during the fourth quarter valued at about $250,000. Altrius Capital Management Inc raised its position in shares of Bae Systems by 5.5% during the fourth quarter. Altrius Capital Management Inc now owns 93,878 shares of the aerospace company's stock valued at $8,719,000 after buying an additional 4,911 shares during the last quarter. RNC Capital Management LLC lifted its stake in shares of Bae Systems by 4.2% in the fourth quarter. RNC Capital Management LLC now owns 5,655 shares of the aerospace company's stock valued at $525,000 after buying an additional 227 shares during the period. Finally, HighPoint Advisor Group LLC grew its position in Bae Systems by 30.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,821 shares of the aerospace company's stock worth $355,000 after buying an additional 883 shares in the last quarter. 0.21% of the stock is owned by institutional investors.

About Bae Systems

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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