The Boeing Company (NYSE:BA) Sees Significant Increase in Short Interest

The Boeing Company (NYSE:BA) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 13,130,000 shares, a growth of 11.1% from the May 31st total of 11,820,000 shares. Based on an average daily trading volume, of 6,870,000 shares, the days-to-cover ratio is presently 1.9 days.

Boeing Price Performance

BA traded up $4.69 during mid-day trading on Monday, hitting $186.70. The stock had a trading volume of 8,972,875 shares, compared to its average volume of 8,560,913. The stock’s fifty day simple moving average is $178.50 and its 200-day simple moving average is $198.05. The firm has a market capitalization of $114.61 billion, a price-to-earnings ratio of -52.74 and a beta of 1.56. Boeing has a 1-year low of $159.70 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. As a group, research analysts expect that Boeing will post -1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Sanford C. Bernstein decreased their price target on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Stifel Nicolaus reissued a “buy” rating and set a $240.00 price target on shares of Boeing in a research note on Wednesday, May 15th. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target on the stock. in a research note on Wednesday, April 17th. Finally, Citigroup decreased their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing during the 4th quarter worth about $26,000. Evolution Advisers Inc. bought a new stake in Boeing during the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing during the 4th quarter worth about $28,000. Vima LLC bought a new stake in Boeing during the 4th quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. lifted its position in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.