The Boeing Company (NYSE:BA) Short Interest Up 10.1% in December

The Boeing Company (NYSE:BA) was the recipient of a significant growth in short interest during 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 daily trading volume, of 13,130,000 shares, the short-interest ratio is currently 1.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BA. IMS Capital Management increased its stake in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares during the last quarter. Peoples Financial Services CORP. grew its holdings in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares in the last quarter. Altus Wealth Group LLC increased its position in shares of Boeing by 5.7% during the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after acquiring an additional 71 shares during the last quarter. Hancock Whitney Corp lifted its holdings in Boeing by 1.0% during the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock worth $1,380,000 after acquiring an additional 72 shares during the period. Finally, Kowal Investment Group LLC boosted its position in Boeing by 4.3% in the third quarter. Kowal Investment Group LLC now owns 1,758 shares of the aircraft producer’s stock worth $267,000 after purchasing an additional 72 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of Boeing stock opened at $177.00 on Thursday. The company’s fifty day moving average price is $158.80 and its two-hundred day moving average price is $165.49. The firm has a market capitalization of $109.42 billion, a PE ratio of -13.72 and a beta of 1.56. Boeing has a 52-week low of $137.03 and a 52-week high of $258.59.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $190.11.

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.