Bae Systems PLC (OTCMKTS:BAESY) Sees Significant Increase in Short Interest

Bae Systems PLC (OTCMKTS:BAESY) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 48,909 shares, a growth of 75.5% from the May 14th total of 27,861 shares. Based on an average daily volume of 477,762 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “hold” rating on shares of Bae Systems in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On Bae Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Bae Systems by 135.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,983 shares of the aerospace company’s stock valued at $464,000 after acquiring an additional 2,293 shares in the last quarter. Collaborative Fund Advisors LLC bought a new position in Bae Systems in the first quarter worth about $897,000. Sterling Capital Management LLC bought a new position in Bae Systems in the first quarter worth about $1,146,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in Bae Systems in the first quarter worth about $307,000. Finally, Riverbridge Partners LLC bought a new position in Bae Systems in the first quarter worth about $221,000. Institutional investors own 0.21% of the company’s stock.

Bae Systems Trading Up 1.9%

Shares of Bae Systems stock opened at $99.68 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.99. The business has a 50 day moving average of $109.58 and a 200 day moving average of $107.87. Bae Systems has a 52 week low of $84.50 and a 52 week high of $126.00.

About Bae Systems

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.