CAE Inc. (NYSE:CAE) Short Interest Up 8.0% in January

CAE Inc. (NYSE:CAE) (TSE:CAE) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 5,370,000 shares, a growth of 8.0% from the December 31st total of 4,970,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 500,300 shares, the short-interest ratio is currently 10.7 days.

CAE Stock Down 2.2 %

Shares of NYSE CAE opened at $23.08 on Tuesday. The firm has a 50 day moving average price of $23.94 and a 200 day moving average price of $20.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.59 and a current ratio of 0.84. The stock has a market cap of $7.38 billion, a P/E ratio of -29.97, a P/E/G ratio of 1.77 and a beta of 1.72. CAE has a 52-week low of $15.95 and a 52-week high of $25.53.

Institutional Trading of CAE

A number of large investors have recently made changes to their positions in CAE. Dimensional Fund Advisors LP lifted its holdings in CAE by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 922,622 shares of the aerospace company’s stock worth $17,145,000 after acquiring an additional 114,229 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of CAE by 10.4% during the 2nd quarter. Truist Financial Corp now owns 84,490 shares of the aerospace company’s stock valued at $1,570,000 after purchasing an additional 7,935 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of CAE by 17.5% during the 3rd quarter. NBC Securities Inc. now owns 18,521 shares of the aerospace company’s stock valued at $347,000 after purchasing an additional 2,752 shares in the last quarter. Nexus Investment Management ULC grew its position in shares of CAE by 2.8% in the 3rd quarter. Nexus Investment Management ULC now owns 1,486,990 shares of the aerospace company’s stock valued at $27,950,000 after purchasing an additional 40,000 shares during the period. Finally, Stanley Laman Group Ltd. increased its stake in CAE by 6.7% during the 3rd quarter. Stanley Laman Group Ltd. now owns 224,392 shares of the aerospace company’s stock worth $4,207,000 after purchasing an additional 14,169 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.

Wall Street Analyst Weigh In

CAE has been the topic of several research reports. StockNews.com raised CAE from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. TD Securities lowered shares of CAE from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Cibc World Mkts downgraded shares of CAE from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. National Bank Financial lowered shares of CAE from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 22nd. Finally, Desjardins raised shares of CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

About CAE

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.