Spirit AeroSystems (NYSE:SPR) Sees Strong Trading Volume – Here’s What Happened

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw unusually-strong trading volume on Tuesday . Approximately 1,605,056 shares were traded during trading, an increase of 41% from the previous session’s volume of 1,138,916 shares.The stock last traded at $34.87 and had previously closed at $33.89.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com started coverage on shares of Spirit AeroSystems in a research report on Monday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Spirit AeroSystems has an average rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Stock Performance

The company has a 50 day moving average price of $33.23 and a 200 day moving average price of $33.32. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -2.78 and a beta of 1.81.

Institutional Trading of Spirit AeroSystems

A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. R Squared Ltd bought a new position in shares of Spirit AeroSystems in the fourth quarter valued at approximately $30,000. Waldron Private Wealth LLC purchased a new position in Spirit AeroSystems during the 3rd quarter worth $32,000. Quest Partners LLC bought a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $49,000. Byrne Asset Management LLC raised its holdings in shares of Spirit AeroSystems by 210.6% in the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Spirit AeroSystems by 49.0% during the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. Institutional investors own 93.59% of the company’s stock.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.