Short Interest in The Boeing Company (NYSE:BA) Rises By 11.1%

The Boeing Company (NYSE:BA) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 13,130,000 shares, a growth of 11.1% from the May 31st total of 11,820,000 shares. Based on an average trading volume of 6,870,000 shares, the short-interest ratio is presently 1.9 days.

Boeing Stock Performance

Shares of NYSE:BA traded down $1.11 during trading on Wednesday, reaching $184.31. The stock had a trading volume of 2,759,240 shares, compared to its average volume of 8,480,264. Boeing has a 52 week low of $159.70 and a 52 week high of $267.54. The firm’s fifty day moving average is $179.14 and its 200 day moving average is $197.01. The stock has a market cap of $113.14 billion, a price-to-earnings ratio of -51.68 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $17.69 billion. On average, research analysts forecast that Boeing will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of BA. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing during the fourth quarter worth $28,000. Evolution Advisers Inc. purchased a new position in Boeing in the fourth quarter worth $28,000. Vima LLC bought a new stake in shares of Boeing during the 4th quarter worth $34,000. Finally, Accent Capital Management LLC bought a new stake in Boeing in the fourth quarter worth about $39,000. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on BA shares. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $240.00 target price on shares of Boeing in a research report on Wednesday, May 15th. Finally, Barclays lowered their target price on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.