Bae Systems (OTCMKTS:BAESY) Sees Unusually-High Trading Volume – Here’s What Happened

Bae Systems PLC (OTCMKTS:BAESY) saw strong trading volume on Wednesday . 1,180,548 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 704,911 shares.The stock last traded at $109.61 and had previously closed at $112.26.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BAESY. Kepler Capital Markets raised shares of Bae Systems from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group began coverage on Bae Systems in a research report on Friday, September 19th. They set a “buy” rating on the stock. Sanford C. Bernstein cut Bae Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 6th. Finally, Erste Group Bank began coverage on Bae Systems in a research note on Friday, October 3rd. They set a “buy” rating for the company. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Bae Systems Trading Up 2.8%

The firm’s 50-day moving average price is $94.90 and its 200 day moving average price is $98.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 0.96.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. L & S Advisors Inc boosted its holdings in Bae Systems by 27.2% in the second quarter. L & S Advisors Inc now owns 16,669 shares of the aerospace company’s stock worth $1,751,000 after purchasing an additional 3,562 shares during the period. First Merchants Corp lifted its position in shares of Bae Systems by 9.0% in the 2nd quarter. First Merchants Corp now owns 62,252 shares of the aerospace company’s stock worth $6,437,000 after buying an additional 5,144 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Bae Systems by 25.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,838 shares of the aerospace company’s stock valued at $298,000 after buying an additional 578 shares during the period. Rhumbline Advisers grew its position in shares of Bae Systems by 19.6% during the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company’s stock valued at $451,000 after buying an additional 897 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its stake in Bae Systems by 2.9% during the second quarter. Ramirez Asset Management Inc. now owns 68,509 shares of the aerospace company’s stock worth $7,084,000 after acquiring an additional 1,954 shares during the period. Institutional investors and hedge funds own 0.21% of the company’s stock.

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.