Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Update

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 54,900 shares, an increase of 15.1% from the October 15th total of 47,700 shares. Based on an average daily trading volume, of 24,600 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds have recently bought and sold shares of ESLT. Russell Investments Group Ltd. grew its stake in shares of Elbit Systems by 57.5% during the 1st quarter. Russell Investments Group Ltd. now owns 16,007 shares of the aerospace company’s stock valued at $3,356,000 after purchasing an additional 5,846 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Elbit Systems by 53.7% during the 1st quarter. Advisors Asset Management Inc. now owns 10,626 shares of the aerospace company’s stock valued at $2,234,000 after acquiring an additional 3,712 shares during the period. Spectrum Asset Management Inc. NB CA bought a new position in shares of Elbit Systems during the 3rd quarter valued at approximately $762,000. Cetera Advisors LLC bought a new position in shares of Elbit Systems during the 1st quarter valued at approximately $1,966,000. Finally, Marshall Wace LLP bought a new position in shares of Elbit Systems during the 2nd quarter valued at approximately $2,181,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Price Performance

Shares of NASDAQ:ESLT opened at $236.88 on Monday. Elbit Systems has a fifty-two week low of $175.30 and a fifty-two week high of $241.30. The business has a 50-day simple moving average of $211.18 and a two-hundred day simple moving average of $198.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 43.54 and a beta of 0.51.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.