Short Interest in BAE Systems plc (OTCMKTS:BAESY) Drops By 56.0%

BAE Systems plc (OTCMKTS:BAESY) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 20,200 shares, a decline of 56.0% from the August 31st total of 45,900 shares. Based on an average daily trading volume, of 176,200 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On BAE Systems

Several institutional investors have recently modified their holdings of BAESY. Renaissance Group LLC bought a new position in BAE Systems during the 1st quarter worth approximately $7,239,000. AdvisorShares Investments LLC acquired a new stake in BAE Systems in the fourth quarter worth $699,000. Confluence Investment Management LLC bought a new position in shares of BAE Systems during the second quarter worth $682,000. Rhumbline Advisers grew its holdings in shares of BAE Systems by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock valued at $307,000 after buying an additional 1,042 shares during the period. Finally, Atlas Capital Advisors LLC increased its position in shares of BAE Systems by 68.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock valued at $270,000 after buying an additional 1,650 shares in the last quarter. 0.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup raised shares of BAE Systems from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th.

BAE Systems Stock Down 0.0 %

OTCMKTS BAESY traded down $0.02 on Wednesday, reaching $67.75. The company had a trading volume of 292,471 shares, compared to its average volume of 210,676. BAE Systems has a 52 week low of $47.81 and a 52 week high of $72.81. The stock’s 50 day moving average is $67.87 and its 200-day moving average is $68.21. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

About BAE Systems

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.