British American Tobacco p.l.c. (NYSE:BTI – Get Free Report) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 5,600,000 shares, a decrease of 13.0% from the October 31st total of 6,440,000 shares. Based on an average daily trading volume, of 4,500,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.3% of the shares of the stock are sold short.
Hedge Funds Weigh In On British American Tobacco
Several hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of British American Tobacco in the third quarter worth about $260,000. World Investment Advisors LLC bought a new position in British American Tobacco in the 3rd quarter worth about $201,000. Stock Yards Bank & Trust Co. purchased a new position in shares of British American Tobacco during the third quarter worth approximately $219,000. Sculati Wealth Management LLC raised its stake in shares of British American Tobacco by 52.1% during the third quarter. Sculati Wealth Management LLC now owns 19,490 shares of the company’s stock valued at $713,000 after acquiring an additional 6,680 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of British American Tobacco in the third quarter valued at approximately $3,742,000. Institutional investors own 21.44% of the company’s stock.
Wall Street Analysts Forecast Growth
BTI has been the subject of several recent research reports. Barclays upgraded British American Tobacco to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley cut shares of British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a research report on Thursday, October 3rd.
British American Tobacco Price Performance
Shares of NYSE:BTI remained flat at $37.94 during trading hours on Friday. The company’s stock had a trading volume of 2,259,034 shares, compared to its average volume of 3,468,281. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.58. The firm has a 50-day simple moving average of $35.92 and a two-hundred day simple moving average of $34.65. British American Tobacco has a fifty-two week low of $28.25 and a fifty-two week high of $39.54.
About British American Tobacco
British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.
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