Short Interest in BAE Systems plc (OTCMKTS:BAESY) Increases By 249.3%

BAE Systems plc (OTCMKTS:BAESY) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 23,400 shares, a growth of 249.3% from the November 30th total of 6,700 shares. Based on an average daily trading volume, of 320,700 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, Bank of America reissued an “underperform” rating on shares of BAE Systems in a report on Friday, November 29th.

Institutional Investors Weigh In On BAE Systems

Several hedge funds have recently modified their holdings of BAESY. Atlas Capital Advisors LLC grew its stake in BAE Systems by 68.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock valued at $270,000 after purchasing an additional 1,650 shares during the last quarter. Rhumbline Advisers increased its holdings in BAE Systems by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock worth $307,000 after acquiring an additional 1,042 shares in the last quarter. Principal Street Partners LLC raised its position in shares of BAE Systems by 99.0% during the 3rd quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock worth $1,178,000 after purchasing an additional 8,769 shares during the last quarter. Dorsey Wright & Associates boosted its stake in BAE Systems by 11.7% during the 3rd quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock worth $3,775,000 after purchasing an additional 5,936 shares during the last quarter. Finally, Altrius Capital Management Inc boosted its position in BAE Systems by 2.3% during the third quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock worth $7,266,000 after acquiring an additional 2,470 shares during the last quarter. Hedge funds and other institutional investors own 0.21% of the company’s stock.

BAE Systems Stock Performance

OTCMKTS:BAESY traded up $0.28 during midday trading on Friday, hitting $58.07. 243,745 shares of the company traded hands, compared to its average volume of 247,705. BAE Systems has a 12-month low of $55.55 and a 12-month high of $72.81. The firm’s fifty day moving average is $64.36 and its 200-day moving average is $66.51.

BAE Systems Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 9th. Shareholders of record on Friday, October 25th were issued a dividend of $0.6333 per share. The ex-dividend date of this dividend was Friday, October 25th.

BAE Systems Company Profile

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.