Spirit AeroSystems (NYSE:SPR) Sees Unusually-High Trading Volume – What’s Next?

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw strong trading volume on Tuesday . 1,605,056 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 1,138,916 shares.The stock last traded at $34.87 and had previously closed at $33.89.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com began coverage on Spirit AeroSystems in a research report on Monday. They issued a “sell” rating on the stock. TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Stock Performance

The stock has a market cap of $4.08 billion, a P/E ratio of -2.81 and a beta of 1.81. The stock’s fifty day moving average is $33.39 and its 200 day moving average is $33.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI raised its position in shares of Spirit AeroSystems by 3,996.6% in the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after purchasing an additional 2,438,974 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in Spirit AeroSystems during the 3rd quarter valued at approximately $77,296,000. Bank of Montreal Can raised its holdings in shares of Spirit AeroSystems by 1,744.2% in the third quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock worth $26,557,000 after buying an additional 758,599 shares during the last quarter. ING Groep NV acquired a new stake in shares of Spirit AeroSystems during the third quarter worth $16,817,000. Finally, Harvest Management LLC grew its holdings in shares of Spirit AeroSystems by 84.8% during the third quarter. Harvest Management LLC now owns 483,000 shares of the aerospace company’s stock valued at $15,702,000 after buying an additional 221,600 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.