Short Interest in The Boeing Company (NYSE:BA) Declines By 26.4%

The Boeing Company (NYSE:BAGet Rating) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 6,570,000 shares, a drop of 26.4% from the March 15th total of 8,930,000 shares. Based on an average daily trading volume, of 9,880,000 shares, the days-to-cover ratio is presently 0.7 days.

A number of analysts have commented on the stock. The Goldman Sachs Group set a $300.00 price objective on shares of Boeing and gave the company a “buy” rating in a report on Wednesday, January 26th. Zacks Investment Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating and set a $163.00 target price for the company. in a report on Friday, April 1st. JPMorgan Chase & Co. set a $235.00 target price on shares of Boeing in a report on Tuesday, April 12th. Cowen dropped their target price on shares of Boeing from $265.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 7th. Finally, Bank of America dropped their target price on shares of Boeing from $245.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $251.20.

Shares of Boeing stock traded down $0.93 during trading on Friday, hitting $181.94. 5,144,620 shares of the stock were exchanged, compared to its average volume of 8,851,530. The stock has a market cap of $107.42 billion, a price-to-earnings ratio of -25.52, a price-to-earnings-growth ratio of 14.29 and a beta of 1.40. The firm’s 50-day moving average price is $192.03 and its 200 day moving average price is $204.36. Boeing has a 12-month low of $167.58 and a 12-month high of $258.40.

Boeing (NYSE:BAGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The aircraft producer reported ($7.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($7.60). The company had revenue of $14.79 billion for the quarter, compared to analysts’ expectations of $16.66 billion. During the same period in the previous year, the business posted ($15.25) earnings per share. Boeing’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that Boeing will post 3.18 earnings per share for the current year.

In other Boeing news, Director Lawrence W. Kellner acquired 5,000 shares of the business’s stock in a transaction on Monday, February 14th. The stock was bought at an average price of $208.91 per share, for a total transaction of $1,044,550.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven M. Mollenkopf acquired 480 shares of the business’s stock in a transaction on Tuesday, February 1st. The stock was acquired at an average price of $208.39 per share, with a total value of $100,027.20. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CastleArk Alternatives LLC acquired a new position in Boeing in the third quarter valued at $3,761,000. Cubist Systematic Strategies LLC increased its stake in shares of Boeing by 47.0% during the third quarter. Cubist Systematic Strategies LLC now owns 55,867 shares of the aircraft producer’s stock worth $12,287,000 after acquiring an additional 17,869 shares during the period. Baker Tilly Wealth Management LLC increased its stake in shares of Boeing by 20.5% during the third quarter. Baker Tilly Wealth Management LLC now owns 10,833 shares of the aircraft producer’s stock worth $2,383,000 after acquiring an additional 1,846 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Boeing by 13.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,486 shares of the aircraft producer’s stock worth $5,166,000 after acquiring an additional 2,700 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Boeing by 30.1% during the third quarter. Allworth Financial LP now owns 9,111 shares of the aircraft producer’s stock worth $2,004,000 after acquiring an additional 2,109 shares during the period. 54.00% of the stock is owned by hedge funds and other institutional investors.

About Boeing (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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