Short Interest in BAE Systems plc (OTCMKTS:BAESY) Increases By 736.2%

BAE Systems plc (OTCMKTS:BAESYGet Rating) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 284,300 shares, a growth of 736.2% from the April 30th total of 34,000 shares. Based on an average trading volume of 521,700 shares, the short-interest ratio is currently 0.5 days.

A number of research firms recently issued reports on BAESY. Zacks Investment Research downgraded BAE Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. DZ Bank downgraded BAE Systems from a “buy” rating to a “hold” rating in a research note on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft raised their price target on BAE Systems from GBX 670 ($8.43) to GBX 860 ($10.82) in a research note on Tuesday, April 12th. Societe Generale downgraded BAE Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 28th. Finally, Morgan Stanley lifted their target price on BAE Systems from GBX 642 ($8.08) to GBX 735 ($9.25) in a research note on Wednesday, April 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $620.50.

Hedge funds have recently modified their holdings of the stock. Yousif Capital Management LLC acquired a new position in BAE Systems during the fourth quarter worth $372,000. RNC Capital Management LLC acquired a new position in BAE Systems during the fourth quarter worth $315,000. PNC Financial Services Group Inc. raised its holdings in shares of BAE Systems by 16.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,633 shares of the aerospace company’s stock worth $176,000 after acquiring an additional 642 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of BAE Systems by 42.3% in the first quarter. Captrust Financial Advisors now owns 1,002 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Finally, Cullen Capital Management LLC raised its holdings in shares of BAE Systems by 4.7% in the first quarter. Cullen Capital Management LLC now owns 1,366,716 shares of the aerospace company’s stock worth $51,484,000 after acquiring an additional 61,884 shares during the last quarter. 0.23% of the stock is owned by hedge funds and other institutional investors.

BAESY stock traded up $0.39 during midday trading on Wednesday, hitting $38.93. 84,638 shares of the stock were exchanged, compared to its average volume of 257,653. The stock’s 50-day moving average price is $38.21 and its 200-day moving average price is $34.12. BAE Systems has a fifty-two week low of $27.93 and a fifty-two week high of $40.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.01.

The company also recently disclosed a dividend, which will be paid on Wednesday, June 8th. Investors of record on Friday, April 22nd will be issued a dividend of $0.7703 per share. The ex-dividend date is Thursday, April 21st. This represents a yield of 3.2%.

BAE Systems Company Profile (Get Rating)

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime. 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 systems, space electronics, and electric drive propulsion systems.

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