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

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

Boeing Stock Performance

Boeing stock opened at $177.00 on Thursday. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $258.59. The firm’s fifty day moving average price is $158.80 and its 200-day moving average price is $165.49. The stock has a market cap of $109.42 billion, a P/E ratio of -13.72 and a beta of 1.56.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BA shares. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Hold” and an average target price of $190.11.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares during the last quarter. Syntax Research Inc. grew its position in Boeing by 18.4% during the 3rd quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock worth $716,000 after acquiring an additional 730 shares during the last quarter. Denver PWM LLC increased its stake in Boeing by 728.9% in the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after purchasing an additional 4,825 shares during the period. Inspire Trust Co. N.A. lifted its position in Boeing by 81.0% in the third quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock valued at $1,596,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.