Bae Systems PLC (OTCMKTS:BAESY) Sees Significant Decrease in Short Interest

Bae Systems PLC (OTCMKTS:BAESY) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 49,000 shares, adropof46.6% from the July 15th total of 91,800 shares. Based on an average trading volume of 391,600 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.0% of the shares of the stock are short sold. Currently,0.0% of the shares of the stock are short sold. Based on an average trading volume of 391,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Bae Systems

Hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC lifted its holdings in shares of Bae Systems by 19.3% during the 1st quarter. Confluence Investment Management LLC now owns 10,986 shares of the aerospace company’s stock worth $903,000 after acquiring an additional 1,777 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bae Systems by 10,259.0% during the 1st quarter. GAMMA Investing LLC now owns 185,840 shares of the aerospace company’s stock worth $15,282,000 after acquiring an additional 184,046 shares during the period. Rhumbline Advisers lifted its holdings in shares of Bae Systems by 19.6% during the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company’s stock worth $451,000 after acquiring an additional 897 shares during the period. First Merchants Corp purchased a new position in shares of Bae Systems during the 1st quarter worth about $4,598,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Bae Systems by 49.4% during the 1st quarter. First Horizon Advisors Inc. now owns 620 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 205 shares during the period. 0.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAESY has been the subject of several recent research reports. Bank of America upgraded shares of Bae Systems from an “underperform” rating to a “buy” rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Bae Systems in a report on Monday, April 28th. Kepler Capital Markets cut shares of Bae Systems from a “hold” rating to a “reduce” rating in a research note on Monday, July 7th. Finally, Jefferies Financial Group raised shares of Bae Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Bae Systems Stock Down 0.9%

Bae Systems stock opened at $96.26 on Monday. Bae Systems has a 12-month low of $56.19 and a 12-month high of $109.82. The firm’s 50-day moving average is $100.95 and its two-hundred day moving average is $90.50. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

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.