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

The Boeing Company (NYSE:BA) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 22,880,000 shares, an increase of 10.1% from the November 30th total of 20,790,000 shares. Based on an average daily trading volume, of 13,130,000 shares, the short-interest ratio is currently 1.7 days.

Boeing Stock Down 2.3 %

Shares of BA stock opened at $176.55 on Tuesday. The firm has a fifty day moving average of $157.72 and a 200-day moving average of $165.44. The firm has a market capitalization of $109.14 billion, a price-to-earnings ratio of -13.69 and a beta of 1.56. Boeing has a 12-month low of $137.03 and a 12-month high of $258.59.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BA. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Robert W. Baird dropped their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $190.11.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares during the period. Franklin Resources Inc. increased its stake in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the period. Wulff Hansen & CO. increased its position in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, State Street Corp lifted its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Institutional investors own 64.82% of the company’s stock.

About Boeing

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.