Bae Systems PLC (OTCMKTS:BAESY) Sees Significant Drop in Short Interest

Bae Systems PLC (OTCMKTS:BAESY) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 24,682 shares, a decline of 49.5% from the May 31st total of 48,909 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 480,870 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BAESY. Altrius Capital Management Inc raised its stake in Bae Systems by 5.5% during the fourth quarter. Altrius Capital Management Inc now owns 93,878 shares of the aerospace company’s stock worth $8,719,000 after purchasing an additional 4,911 shares during the period. Ramirez Asset Management Inc. increased its holdings in shares of Bae Systems by 6.8% during the 4th quarter. Ramirez Asset Management Inc. now owns 70,620 shares of the aerospace company’s stock worth $6,512,000 after buying an additional 4,527 shares during the last quarter. First Merchants Corp raised its position in shares of Bae Systems by 1.3% during the 1st quarter. First Merchants Corp now owns 68,422 shares of the aerospace company’s stock valued at $7,940,000 after buying an additional 854 shares during the period. Arrow Capital Pty Ltd purchased a new stake in shares of Bae Systems during the 3rd quarter valued at approximately $5,531,000. Finally, Sit Investment Associates Inc. lifted its holdings in Bae Systems by 2.6% in the fourth quarter. Sit Investment Associates Inc. now owns 35,476 shares of the aerospace company’s stock valued at $3,295,000 after acquiring an additional 910 shares during the last quarter. 0.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BAESY shares. Kepler Capital Markets raised Bae Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 24th. Morgan Stanley restated an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Finally, Erste Group Bank downgraded Bae Systems from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Bae Systems Stock Performance

Bae Systems stock traded up $7.30 during mid-day trading on Thursday, hitting $106.98. The company had a trading volume of 75,996 shares, compared to its average volume of 422,210. Bae Systems has a 12-month low of $84.50 and a 12-month high of $126.00. The company’s fifty day moving average is $104.05 and its 200-day moving average is $108.48. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

Bae Systems Company Profile

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.