18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

10. Boeing Co (NYSE:BA)

52 Week Range: $159.70 – $267.54

Current Share Price: $173.05

Number of Hedge Fund Holders: 42

Short interest rate: 1.98%

Boeing Co (NYSE:BA) is an industrial company specializing in designing, developing, and manufacturing commercial jetliners, military aircraft satellites, missile defense, and human space flight. Boeing has been facing challenges due to scandals, accidents, and safety concerns, leading to investigations. The controversy has only triggered a steep pullback on the stock, affirming why it is one of the best 52-week low stocks to buy now according to short sellers.

While Boeing Co (NYSE:BA) has felt the full brunt of engineering issues of its airplanes, it remains a key player in the sector, with the aerospace industry soaring to new heights owing to record-breaking air travel demand for its airplanes.

Management shakeup with the appointment of a new CEO, Robert Ortberg, has strengthened the company’s sentiments among investors. AN aerospace veteran, the new CEO, is tasked with restoring Boeing Co (NYSE:BA) ‘s reputation and stabilizing production to meet the growing demand.

Boeing faced significant challenges in the second quarter, resulting in a 14.6% decrease in revenue to $16.9 billion. Net loss expanded by 253.7% to $2.90 per share. The number of planes delivered decreased to 92, and the order backlog fell to $515.9 billion, marking a reversal of the backlog growth seen in the first quarter.

With Airbus being its sole competitor, there remains a glimmer of hope. Investors could find reassurance in the fact that this substantial backlog could potentially be turned around, securing Boeing Co (NYSE:BA) ‘s position in the market.

At the end of the quarter, Boeing Co (NYSE:BA) had $10.9 billion in cash and cash equivalents; its free cash outflow for the first half of the year was $8.3 billion, a significant increase from the $1.8 billion free cash outflow seen in the same period the previous year. As of the end of July, 1.98% of the company’s outstanding shares were sold short.

As of the end of June, 42 hedge funds tracked by Insider Monkey own stakes in Boeing Co (NYSE:BA), down from 54 in the previous quarter.