Short Interest in The Boeing Company (NYSE:BA) Increases By 10.1%

The Boeing Company (NYSE:BA) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 22,880,000 shares, a growth of 10.1% from the November 30th total of 20,790,000 shares. Based on an average trading volume of 13,130,000 shares, the days-to-cover ratio is currently 1.7 days.

Boeing Price Performance

BA opened at $176.55 on Tuesday. Boeing has a 1-year low of $137.03 and a 1-year high of $258.59. The firm has a market cap of $109.14 billion, a P/E ratio of -13.69 and a beta of 1.56. The company has a 50 day simple moving average of $157.72 and a two-hundred day simple moving average of $165.44.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the firm earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that Boeing will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently modified their holdings of BA. Lantz Financial LLC raised its holdings in shares of Boeing by 109.7% in the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after purchasing an additional 1,410 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Boeing during the second quarter worth approximately $166,000. IFG Advisory LLC acquired a new stake in Boeing during the 2nd quarter worth $543,000. Farther Finance Advisors LLC raised its holdings in shares of Boeing by 11.5% in the second quarter. Farther Finance Advisors LLC now owns 6,378 shares of the aircraft producer’s stock valued at $1,191,000 after buying an additional 660 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Boeing by 38.2% in the 2nd quarter. Aptus Capital Advisors LLC now owns 7,359 shares of the aircraft producer’s stock valued at $1,339,000 after purchasing an additional 2,035 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research analyst reports. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Company Profile

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.