Short Interest in The Boeing Company (NYSE:BA) Grows By 19.4%

The Boeing Company (NYSE:BA) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 22,550,000 shares, a growth of 19.4% from the October 31st total of 18,890,000 shares. Based on an average trading volume of 12,370,000 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

BA has been the topic of several research reports. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley decreased their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boeing currently has a consensus rating of “Hold” and a consensus target price of $190.11.

Institutional Investors Weigh In On Boeing

Large investors have recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter worth $34,000. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the third quarter worth about $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the 2nd quarter valued at about $33,000. Cedar Wealth Management LLC bought a new position in shares of Boeing during the 3rd quarter valued at approximately $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Up 0.7 %

BA opened at $156.54 on Tuesday. The stock has a market capitalization of $96.77 billion, a price-to-earnings ratio of -12.14 and a beta of 1.57. The firm has a 50 day moving average price of $151.48 and a 200-day moving average price of $167.35. Boeing has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released 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 during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts expect that Boeing will post -16.19 earnings per share for the current year.

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.