Bae Systems PLC (OTCMKTS:BAESY) Sees Large Decline in Short Interest

Bae Systems PLC (OTCMKTS:BAESY) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 40,428 shares, a drop of 36.9% from the July 30th total of 64,060 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 257,718 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Bae Systems

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Bae Systems by 2.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,969 shares of the aerospace company’s stock worth $389,000 after acquiring an additional 96 shares during the period. Confluence Investment Management LLC lifted its position in Bae Systems by 0.9% in the second quarter. Confluence Investment Management LLC now owns 13,420 shares of the aerospace company’s stock worth $1,314,000 after purchasing an additional 115 shares during the period. PNC Financial Services Group Inc. boosted its stake in 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 worth $464,000 after buying an additional 2,293 shares in the last quarter. Collaborative Fund Advisors LLC acquired a new position in shares of Bae Systems in the 1st quarter valued at $897,000. Finally, Sterling Capital Management LLC bought a new position in shares of Bae Systems during the 1st quarter worth about $1,146,000. Institutional investors and hedge funds own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BAESY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Bae Systems in a report on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Royal Bank Of Canada started coverage on shares of Bae Systems in a report on Tuesday, August 11th. They issued a “sector perform” rating on the stock. Kepler Capital Markets upgraded shares of Bae Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 24th. Finally, Erste Group Bank lowered Bae Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Bae Systems currently has an average rating of “Hold”.

Bae Systems Stock Up 0.5%

Shares of Bae Systems stock opened at $108.70 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.87. The firm has a fifty day moving average price of $108.77 and a two-hundred day moving average price of $110.87. Bae Systems has a fifty-two week low of $84.50 and a fifty-two 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.