Short Interest in The Boeing Company (NYSE:BA) Increases By 13.1%

by · The Cerbat Gem

The Boeing Company (NYSE:BA – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 14,420,000 shares, a growth of 13.1% from the September 30th total of 12,750,000 shares. Based on an average daily volume of 7,930,000 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analyst Weigh In

BA has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing has an average rating of “Hold” and an average target price of $190.42.

View Our Latest Report on Boeing

Boeing Stock Down 3.2 %

Boeing stock traded down $5.00 on Thursday, hitting $149.29. The company’s stock had a trading volume of 29,037,759 shares, compared to its average volume of 8,766,683. The firm has a market cap of $91.65 billion, a P/E ratio of -42.05 and a beta of 1.57. Boeing has a one year low of $146.02 and a one year high of $267.54. The company has a fifty day moving average price of $157.86 and a 200-day moving average price of $171.09.

Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company posted ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate that Boeing will post -5.35 EPS for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the second quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. boosted its position in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing during the second quarter worth about $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

(Get Free Report)

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.

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