BAE Systems plc (OTCMKTS:BAESY) Sees Large Drop in Short Interest

BAE Systems plc (OTCMKTS:BAESY) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 11,100 shares, a decline of 35.8% from the July 15th total of 17,300 shares. Based on an average daily volume of 891,800 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of BAE Systems

Large investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC acquired a new position in BAE Systems during the second quarter worth $682,000. AdvisorShares Investments LLC bought a new stake in shares of BAE Systems during the 4th quarter worth about $699,000. GAMMA Investing LLC lifted its stake in BAE Systems by 16.4% during the first quarter. GAMMA Investing LLC now owns 1,548 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 218 shares during the period. SVB Wealth LLC lifted its stake in shares of BAE Systems by 13.0% during the fourth quarter. SVB Wealth LLC now owns 4,733 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 546 shares during the period. Finally, Rhumbline Advisers lifted its position in BAE Systems by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock valued at $307,000 after acquiring an additional 1,042 shares in the last quarter. 0.21% of the stock is currently owned by hedge funds and other institutional investors.

BAE Systems Price Performance

Shares of OTCMKTS BAESY traded up $1.42 during trading hours on Thursday, reaching $69.74. The stock had a trading volume of 75,101 shares, compared to its average volume of 288,634. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. BAE Systems has a 52-week low of $47.81 and a 52-week high of $72.81. The business’s fifty day moving average price is $66.95 and its two-hundred day moving average price is $66.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BAESY. Citigroup raised BAE Systems from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Bank of America lowered shares of BAE Systems from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About BAE Systems

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.