The Boeing Company (NYSE:BA) Short Interest Update

The Boeing Company (NYSE:BA) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 20,790,000 shares, a decrease of 7.8% from the November 15th total of 22,550,000 shares. Based on an average daily volume of 12,700,000 shares, the days-to-cover ratio is presently 1.6 days.

Boeing Price Performance

Shares of BA opened at $173.09 on Wednesday. The firm has a market capitalization of $107.00 billion, a PE ratio of -13.42 and a beta of 1.56. The company’s fifty day moving average price is $153.51 and its 200-day moving average price is $165.99. Boeing has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts anticipate that Boeing will post -16.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company cut their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, October 15th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $190.11.

Hedge Funds Weigh In On Boeing

Institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the second quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing during the second quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings 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. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.