British American Tobacco p.l.c. (NYSE:BTI) Short Interest Down 38.7% in May

British American Tobacco p.l.c. (NYSE:BTIGet Rating) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 3,120,000 shares, a drop of 38.7% from the April 30th total of 5,090,000 shares. Based on an average trading volume of 3,780,000 shares, the short-interest ratio is currently 0.8 days.

Shares of NYSE BTI traded up $0.01 during trading on Friday, reaching $44.80. 1,841,320 shares of the stock were exchanged, compared to its average volume of 4,223,284. The business’s 50-day moving average price is $42.61 and its 200 day moving average price is $40.80. British American Tobacco has a twelve month low of $33.62 and a twelve month high of $47.24. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.53.

Several hedge funds and other institutional investors have recently bought and sold shares of BTI. GQG Partners LLC acquired a new position in shares of British American Tobacco during the fourth quarter worth $567,732,000. JPMorgan Chase & Co. increased its stake in shares of British American Tobacco by 8,377.2% in the first quarter. JPMorgan Chase & Co. now owns 2,912,004 shares of the company’s stock worth $122,770,000 after buying an additional 2,877,653 shares during the last quarter. Skye Global Management LP increased its stake in shares of British American Tobacco by 109.9% in the fourth quarter. Skye Global Management LP now owns 4,198,000 shares of the company’s stock worth $157,047,000 after buying an additional 2,198,000 shares during the last quarter. Capital International Investors increased its stake in shares of British American Tobacco by 12.6% in the first quarter. Capital International Investors now owns 9,449,045 shares of the company’s stock worth $400,788,000 after buying an additional 1,060,090 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of British American Tobacco by 59.2% in the first quarter. Bank of New York Mellon Corp now owns 2,414,763 shares of the company’s stock worth $101,807,000 after buying an additional 897,586 shares during the last quarter. 13.18% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on BTI shares. Zacks Investment Research raised shares of British American Tobacco from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised shares of British American Tobacco from a “neutral” rating to an “overweight” rating in a research report on Thursday, March 24th. StockNews.com initiated coverage on shares of British American Tobacco in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Royal Bank of Canada cut shares of British American Tobacco to a “sector perform” rating in a research report on Tuesday, February 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3,600.00.

About British American Tobacco (Get Rating)

British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.

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