The Boeing Company (NYSE:BA) Sees Large Increase in Short Interest

The Boeing Company (NYSE:BA) saw 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 trading volume, of 7,930,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BA shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Finally, TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $190.42.

Boeing Stock Down 3.2 %

NYSE:BA traded down $5.00 during trading hours on Thursday, hitting $149.29. 29,037,759 shares of the stock were exchanged, compared to its average volume of 8,766,683. The company’s 50 day moving average is $158.34 and its two-hundred day moving average is $171.24. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The company has a market capitalization of $91.65 billion, a P/E ratio of -42.64 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted ($3.26) earnings per share. On average, equities research analysts expect that Boeing will post -5.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new position in Boeing in the second quarter valued at about $34,000. McClarren Financial Advisors Inc. grew its stake in 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. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in 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 during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Boeing in the second quarter valued at about $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.