CAE Inc. (NYSE:CAE) Sees Significant Increase in Short Interest

CAE Inc. (NYSE:CAE - Get Free Report) TSE: CAE was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 3,530,000 shares, a growth of 7.6% from the September 30th total of 3,280,000 shares. Currently, 1.1% of the company's shares are sold short. Based on an average daily volume of 602,100 shares, the short-interest ratio is currently 5.9 days.

CAE Stock Up 2.0 %

CAE stock traded up $0.35 during mid-day trading on Friday, reaching $17.95. The company's stock had a trading volume of 487,415 shares, compared to its average volume of 587,783. The business's 50 day simple moving average is $18.22 and its 200 day simple moving average is $18.55. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. CAE has a 12 month low of $15.95 and a 12 month high of $23.24.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last released its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.05 billion. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Equities analysts forecast that CAE will post 0.85 EPS for the current fiscal year.

Institutional Trading of CAE

Hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in shares of CAE in the second quarter valued at approximately $33,000. Cromwell Holdings LLC increased its stake in shares of CAE by 103.4% in the third quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company's stock valued at $34,000 after buying an additional 915 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of CAE by 86.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 1,100 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in CAE in the first quarter valued at $77,000. Finally, UniSuper Management Pty Ltd raised its position in shares of CAE by 104.5% during the first quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the aerospace company's stock worth $93,000 after acquiring an additional 2,300 shares during the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAE has been the subject of a number of recent analyst reports. StockNews.com cut shares of CAE from a "buy" rating to a "hold" rating in a research report on Friday, October 4th. Morgan Stanley lowered CAE from an "overweight" rating to an "equal weight" rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada upgraded shares of CAE from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, CAE presently has a consensus rating of "Hold" and a consensus price target of $28.00.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.