The Boeing Company (NYSE:BA) Short Interest Up 11.1% in June

The Boeing Company (NYSE:BA) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 13,130,000 shares, an increase of 11.1% from the May 31st total of 11,820,000 shares. Based on an average daily volume of 6,870,000 shares, the short-interest ratio is presently 1.9 days.

Boeing Stock Performance

Boeing stock traded down $1.11 during midday trading on Wednesday, hitting $184.31. 2,759,240 shares of the company’s stock were exchanged, compared to its average volume of 8,480,264. The company has a market cap of $113.14 billion, a PE ratio of -51.68 and a beta of 1.56. The firm has a 50-day moving average of $179.14 and a two-hundred day moving average of $197.01. Boeing has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. As a group, equities analysts expect that Boeing will post -1.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing during the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Boeing in the 4th quarter valued at $28,000. Evolution Advisers Inc. purchased a new position in shares of Boeing during the fourth quarter worth $28,000. Vima LLC acquired a new stake in Boeing during the 4th quarter worth about $34,000. Finally, Accent Capital Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BA. Robert W. Baird dropped their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Royal Bank of Canada reduced their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. UBS Group dropped their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Finally, Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $220.89.

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.