British American Tobacco (NYSE:BTI) Shares Gap Down – Here’s Why

British American Tobacco p.l.c. (NYSE:BTI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $35.37, but opened at $34.43. British American Tobacco shares last traded at $34.44, with a volume of 899,008 shares.

Analyst Ratings Changes

Several equities analysts recently weighed in on BTI shares. StockNews.com cut shares of British American Tobacco from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 11th. Morgan Stanley downgraded shares of British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research report on Thursday, October 3rd. Finally, Barclays raised shares of British American Tobacco to a “strong-buy” rating in a report on Thursday.

British American Tobacco Price Performance

The business has a fifty day moving average of $36.90 and a two-hundred day moving average of $33.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.58 and a current ratio of 0.88. The firm has a market capitalization of $76.63 billion, a price-to-earnings ratio of 7.14 and a beta of 0.52.

Hedge Funds Weigh In On British American Tobacco

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of British American Tobacco by 153.7% during the 1st quarter. Larson Financial Group LLC now owns 1,007 shares of the company’s stock worth $31,000 after buying an additional 610 shares during the period. Mather Group LLC. grew its position in shares of British American Tobacco by 4,526.9% in the second quarter. Mather Group LLC. now owns 1,203 shares of the company’s stock valued at $37,000 after purchasing an additional 1,177 shares during the last quarter. Addison Advisors LLC increased its stake in shares of British American Tobacco by 79.9% during the second quarter. Addison Advisors LLC now owns 1,227 shares of the company’s stock worth $38,000 after purchasing an additional 545 shares during the period. Pathway Financial Advisers LLC acquired a new stake in British American Tobacco during the 1st quarter worth approximately $46,000. Finally, City State Bank boosted its stake in British American Tobacco by 5,016.7% in the 1st quarter. City State Bank now owns 1,535 shares of the company’s stock valued at $47,000 after purchasing an additional 1,505 shares during the period. 21.44% of the stock is currently 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.