British American Tobacco p.l.c. (NYSE:BTI) Sees Large Drop in Short Interest

British American Tobacco p.l.c. (NYSE:BTI) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 5,762,078 shares, a decline of 20.1% from the December 15th total of 7,212,709 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 2,241,607 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 2,241,607 shares, the short-interest ratio is presently 2.6 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of British American Tobacco

A number of hedge funds have recently added to or reduced their stakes in BTI. True Wealth Design LLC acquired a new position in shares of British American Tobacco in the third quarter worth about $29,000. Cary Street Partners Financial LLC purchased a new position in shares of British American Tobacco in the 2nd quarter valued at about $30,000. Salem Investment Counselors Inc. raised its holdings in British American Tobacco by 48.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after purchasing an additional 207 shares during the period. Binnacle Investments Inc boosted its position in British American Tobacco by 163.2% during the third quarter. Binnacle Investments Inc now owns 750 shares of the company’s stock worth $40,000 after purchasing an additional 465 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in British American Tobacco by 100.0% in the third quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock valued at $41,000 after purchasing an additional 391 shares during the period. 16.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BTI has been the subject of several research reports. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Up 0.2%

Shares of BTI stock opened at $58.21 on Friday. British American Tobacco has a 52-week low of $35.97 and a 52-week high of $59.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The business has a 50-day simple moving average of $56.50 and a 200-day simple moving average of $54.62.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.