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Short Interest in The Boeing Company (NYSE:BA) Expands By 15.9%

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Key Points

  • Short interest in Boeing rose 15.9% in April to 15,415,535 shares, about 2.0% of shares outstanding, with a short-interest ratio of 2.9 days.
  • Company insiders have sold 21,012 shares (~$4.98 million) in the past three months (including two EVP sales), leaving insiders with roughly 0.10% ownership.
  • Analysts are broadly optimistic after Boeing's Q1 beat and signals to raise 737 production; the stock carries a consensus "Moderate Buy" rating and an average price target of $259.60.
  • MarketBeat previews the top five stocks to own by June 1st.

The Boeing Company (NYSE:BA - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 15,415,535 shares, an increase of 15.9% from the March 31st total of 13,295,479 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,384,041 shares, the short-interest ratio is presently 2.9 days.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 1,503 shares of Boeing stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $233.78, for a total transaction of $351,371.34. Following the sale, the executive vice president owned 19,015 shares in the company, valued at $4,445,326.70. This trade represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Howard E. Mckenzie sold 10,497 shares of Boeing stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the sale, the executive vice president owned 14,692 shares in the company, valued at approximately $3,437,781.08. The trade was a 41.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,012 shares of company stock worth $4,980,687. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in Boeing during the third quarter valued at $25,000. Strive Financial Group LLC bought a new position in Boeing during the fourth quarter valued at $25,000. Ares Financial Consulting LLC bought a new position in Boeing during the fourth quarter valued at $26,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing during the fourth quarter valued at $26,000. Finally, Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing during the fourth quarter valued at $27,000. Institutional investors own 64.82% of the company's stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Boeing from $245.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. Argus upgraded shares of Boeing to a "hold" rating in a research report on Monday, February 2nd. Wells Fargo & Company initiated coverage on shares of Boeing in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Susquehanna restated a "positive" rating and issued a $280.00 price target on shares of Boeing in a research report on Thursday, January 15th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Boeing in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.60.

View Our Latest Analysis on Boeing

Boeing Trading Up 2.3%

Shares of BA opened at $229.17 on Friday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.35 and a current ratio of 1.18. Boeing has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The stock has a market capitalization of $180.65 billion, a PE ratio of 111.25 and a beta of 1.13. The company's fifty day moving average is $217.11 and its 200 day moving average is $217.34.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. During the same quarter last year, the firm earned ($0.49) EPS. The company's revenue was up 14.0% on a year-over-year basis. Sell-side analysts expect that Boeing will post 0.04 earnings per share for the current fiscal year.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

About Boeing

(Get Free Report)

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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