Short Interest in CAE Inc. (NYSE:CAE) Expands By 8.0%

CAE Inc. (NYSE:CAE) (TSE:CAE) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,370,000 shares, an increase of 8.0% from the December 31st total of 4,970,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 500,300 shares, the short-interest ratio is presently 10.7 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAE. National Bank Financial downgraded CAE from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 22nd. Desjardins upgraded shares of CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. TD Securities downgraded CAE from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

CAE Price Performance

Shares of CAE stock opened at $23.08 on Tuesday. CAE has a 1-year low of $15.95 and a 1-year high of $25.53. The firm’s 50-day moving average price is $23.94 and its two-hundred day moving average price is $20.40. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -29.97, a P/E/G ratio of 1.77 and a beta of 1.72.

Institutional Investors Weigh In On CAE

A number of hedge funds and other institutional investors have recently bought and sold shares of CAE. Dimensional Fund Advisors LP grew its holdings in shares of CAE by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 922,622 shares of the aerospace company’s stock worth $17,145,000 after purchasing an additional 114,229 shares during the last quarter. Truist Financial Corp grew its holdings in CAE by 10.4% during the 2nd quarter. Truist Financial Corp now owns 84,490 shares of the aerospace company’s stock worth $1,570,000 after acquiring an additional 7,935 shares during the last quarter. NBC Securities Inc. increased its position in CAE by 17.5% in the 3rd quarter. NBC Securities Inc. now owns 18,521 shares of the aerospace company’s stock valued at $347,000 after acquiring an additional 2,752 shares in the last quarter. Nexus Investment Management ULC raised its stake in shares of CAE by 2.8% in the third quarter. Nexus Investment Management ULC now owns 1,486,990 shares of the aerospace company’s stock worth $27,950,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its position in shares of CAE by 6.7% during the third quarter. Stanley Laman Group Ltd. now owns 224,392 shares of the aerospace company’s stock worth $4,207,000 after purchasing an additional 14,169 shares in the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.