Short Interest in The Boeing Company (NYSE:BA) Declines By 9.0%

The Boeing Company (NYSE:BA) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 12,340,000 shares, a decrease of 9.0% from the August 15th total of 13,560,000 shares. Based on an average daily trading volume, of 6,190,000 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Robert W. Baird dropped their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Finally, Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Hedge Funds Weigh In On Boeing

Hedge funds have recently bought and sold shares of the business. Brio Consultants LLC acquired a new stake in Boeing in the 4th quarter worth approximately $207,000. Gryphon Financial Partners LLC acquired a new stake in Boeing during the fourth quarter worth about $258,000. Brown Advisory Inc. raised its stake in shares of Boeing by 3.2% in the fourth quarter. Brown Advisory Inc. now owns 45,211 shares of the aircraft producer’s stock valued at $11,785,000 after purchasing an additional 1,395 shares in the last quarter. Main Street Financial Solutions LLC bought a new position in Boeing in the fourth quarter worth $252,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of Boeing by 1.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 22,263 shares of the aircraft producer’s stock valued at $5,803,000 after acquiring an additional 307 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

BA traded down $1.22 during trading on Wednesday, reaching $155.17. 7,696,949 shares of the stock traded hands, compared to its average volume of 7,933,239. The stock’s 50-day simple moving average is $172.38 and its two-hundred day simple moving average is $178.23. Boeing has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The stock has a market cap of $95.26 billion, a price-to-earnings ratio of -43.71 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. The firm’s revenue was down 14.6% on a year-over-year basis. Research analysts anticipate that Boeing will post -4.26 earnings per share for the current fiscal year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.