British American Tobacco p.l.c. (NYSE:BTI) Short Interest Down 37.3% in August

British American Tobacco p.l.c. (NYSE:BTIGet Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 3,879,532 shares, a drop of 37.3% from the July 30th total of 6,183,718 shares. Based on an average trading volume of 3,897,260 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.2% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research firms have recently weighed in on BTI. Weiss Ratings reissued a “buy (b)” rating on shares of British American Tobacco in a research note on Monday. Royal Bank Of Canada reiterated an “underperform” rating on shares of British American Tobacco in a report on Tuesday, August 11th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Finally, BTIG Research assumed coverage on British American Tobacco in a research note on Tuesday, July 21st. They issued a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Read Our Latest Analysis on British American Tobacco

British American Tobacco Price Performance

NYSE BTI traded down $0.22 during trading hours on Wednesday, reaching $55.70. 2,190,054 shares of the company’s stock were exchanged, compared to its average volume of 4,485,998. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. British American Tobacco has a one year low of $49.88 and a one year high of $67.30. The company’s 50-day moving average is $59.48 and its two-hundred day moving average is $59.88.

British American Tobacco (NYSE:BTIGet Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $2.21 by ($1.10). The company had revenue of $8.10 billion for the quarter, compared to analyst estimates of $16.42 billion. Equities research analysts forecast that British American Tobacco will post 4.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. raised its holdings in British American Tobacco by 1,386.7% during the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock worth $25,000 after acquiring an additional 416 shares in the last quarter. Glen Eagle Advisors LLC acquired a new position in shares of British American Tobacco during the 4th quarter worth approximately $26,000. Cary Street Partners Financial LLC bought a new stake in shares of British American Tobacco during the 2nd quarter worth approximately $30,000. SHP Wealth Management bought a new stake in shares of British American Tobacco during the 4th quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of British American Tobacco by 141.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after buying an additional 346 shares during the last quarter. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Company Profile

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British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

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