Short Interest in British American Tobacco p.l.c. (NYSE:BTI) Drops By 13.0%

British American Tobacco p.l.c. (NYSE:BTI) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 5,600,000 shares, a drop of 13.0% from the October 31st total of 6,440,000 shares. Based on an average trading volume of 4,500,000 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley lowered British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price target for the company. in a research note on Thursday, October 3rd. StockNews.com lowered British American Tobacco from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays raised British American Tobacco to a “strong-buy” rating in a research report on Thursday, October 17th.

British American Tobacco Trading Down 1.9 %

Shares of British American Tobacco stock traded down $0.70 during trading on Tuesday, reaching $37.03. The company had a trading volume of 6,135,961 shares, compared to its average volume of 4,726,094. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.58 and a current ratio of 0.88. British American Tobacco has a fifty-two week low of $28.25 and a fifty-two week high of $39.54. The firm’s fifty day moving average is $35.92 and its 200-day moving average is $34.67.

Institutional Investors Weigh In On British American Tobacco

Several institutional investors and hedge funds have recently made changes to their positions in BTI. Wilmington Savings Fund Society FSB purchased a new position in British American Tobacco in the 3rd quarter worth about $260,000. World Investment Advisors LLC acquired a new position in British American Tobacco in the third quarter worth $201,000. Stock Yards Bank & Trust Co. acquired a new position in shares of British American Tobacco during the third quarter valued at $219,000. Sculati Wealth Management LLC increased its holdings in British American Tobacco by 52.1% in the third quarter. Sculati Wealth Management LLC now owns 19,490 shares of the company’s stock valued at $713,000 after purchasing an additional 6,680 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of British American Tobacco in the third quarter worth about $3,742,000. 21.44% of the stock is owned by institutional investors and hedge funds.

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.