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

The Boeing Company (NYSE:BA) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 20,790,000 shares, a decline of 7.8% from the November 15th total of 22,550,000 shares. Based on an average trading volume of 12,700,000 shares, the short-interest ratio is presently 1.6 days.

Boeing Trading Down 0.0 %

Shares of BA stock opened at $173.09 on Wednesday. The stock’s 50-day moving average price is $153.51 and its 200-day moving average price is $165.99. Boeing has a 12-month low of $137.03 and a 12-month high of $267.54. The stock has a market capitalization of $107.00 billion, a price-to-earnings ratio of -13.42 and a beta of 1.56.

Boeing (NYSE:BA) last announced 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 company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts predict that Boeing will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Citigroup cut their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. TD Cowen lowered their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. decreased their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $190.11.

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.