Short Interest in Bae Systems PLC (OTCMKTS:BAESY) Drops By 20.3%

Bae Systems PLC (OTCMKTS:BAESY) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 71,200 shares, a decrease of 20.3% from the August 15th total of 89,300 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 700,200 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 700,200 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAESY. Kepler Capital Markets lowered Bae Systems from a “hold” rating to a “reduce” rating in a report on Monday, July 7th. Jefferies Financial Group raised Bae Systems from a “hold” rating to a “buy” rating in a report on Friday, August 1st. Bank of America raised Bae Systems from an “underperform” rating to a “buy” rating in a research note on Tuesday, June 10th. Finally, The Goldman Sachs Group began coverage on Bae Systems in a research note on Friday. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Bae Systems Price Performance

Shares of BAESY stock opened at $106.00 on Friday. The business’s 50-day moving average price is $99.02 and its 200-day moving average price is $95.95. Bae Systems has a 12 month low of $56.19 and a 12 month high of $111.71. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.85.

Hedge Funds Weigh In On Bae Systems

A number of hedge funds have recently made changes to their positions in BAESY. GAMMA Investing LLC raised its position in shares of Bae Systems by 10,259.0% during the first 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 last quarter. First Merchants Corp bought a new position in shares of Bae Systems during the first quarter worth about $4,598,000. L & S Advisors Inc bought a new position in shares of Bae Systems during the first quarter worth about $1,078,000. Corient IA LLC bought a new position in shares of Bae Systems during the first quarter worth about $805,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Bae Systems during the first quarter worth about $185,000. 0.21% of the stock is currently owned by institutional investors.

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.