CAE Inc. (NYSE:CAE) Sees Significant Growth in Short Interest

CAE Inc. (NYSE:CAE) (TSE:CAE) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,790,000 shares, a growth of 7.4% from the October 15th total of 3,530,000 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 567,600 shares, the days-to-cover ratio is presently 6.7 days.

CAE Stock Up 0.9 %

CAE stock traded up $0.20 during midday trading on Tuesday, reaching $22.46. The stock had a trading volume of 41,683 shares, compared to its average volume of 590,279. The firm has a fifty day simple moving average of $18.69 and a two-hundred day simple moving average of $18.59. CAE has a 52-week low of $15.95 and a 52-week high of $22.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.59 and a current ratio of 0.84.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC raised its position in CAE by 3.7% during the 3rd quarter. IHT Wealth Management LLC now owns 22,690 shares of the aerospace company’s stock worth $425,000 after buying an additional 802 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of CAE by 3.5% in the 2nd quarter. Confluence Investment Management LLC now owns 25,098 shares of the aerospace company’s stock valued at $466,000 after buying an additional 857 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in CAE by 2.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 33,517 shares of the aerospace company’s stock worth $632,000 after acquiring an additional 871 shares during the period. Cromwell Holdings LLC raised its position in CAE by 103.4% during the third quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 915 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in CAE by 86.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 1,100 shares in the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CAE shares. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. Morgan Stanley cut CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. Finally, StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

CAE Company Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.