Short Interest in Embraer S.A. (NYSE:ERJ) Declines By 29.7%

Embraer S.A. (NYSE:ERJ) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 4,230,000 shares, a drop of 29.7% from the November 15th total of 6,020,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Embraer

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its holdings in Embraer by 164.4% in the 3rd quarter. Virtu Financial LLC now owns 37,082 shares of the aerospace company’s stock worth $1,312,000 after buying an additional 23,056 shares during the period. Dorsey Wright & Associates grew its stake in Embraer by 13.5% during the third quarter. Dorsey Wright & Associates now owns 146,873 shares of the aerospace company’s stock valued at $5,195,000 after acquiring an additional 17,484 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Embraer by 2.9% in the third quarter. Orion Portfolio Solutions LLC now owns 44,174 shares of the aerospace company’s stock worth $1,562,000 after purchasing an additional 1,241 shares during the period. XTX Topco Ltd purchased a new stake in shares of Embraer in the 3rd quarter valued at about $1,203,000. Finally, State Street Corp grew its stake in Embraer by 1.3% in the 3rd quarter. State Street Corp now owns 368,662 shares of the aerospace company’s stock worth $13,040,000 after buying an additional 4,666 shares in the last quarter. 34.65% of the stock is owned by hedge funds and other institutional investors.

Embraer Stock Performance

Shares of ERJ stock traded down $0.24 during trading hours on Friday, hitting $36.51. 597,722 shares of the company were exchanged, compared to its average volume of 1,571,437. Embraer has a 52-week low of $16.88 and a 52-week high of $40.34. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $36.12 and a 200 day simple moving average of $32.67. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.42 and a beta of 1.72.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ERJ. Bank of America raised their target price on Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. UBS Group downgraded shares of Embraer from a “neutral” rating to a “sell” rating and lifted their price target for the company from $29.00 to $32.00 in a research report on Tuesday, November 19th. Finally, TD Cowen upgraded shares of Embraer from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.