Leonardo DRS, Inc. (NASDAQ:DRS) Short Interest Update

Leonardo DRS, Inc. (NASDAQ:DRS) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,500,000 shares, a drop of 13.2% from the March 15th total of 2,880,000 shares. Based on an average daily trading volume, of 665,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 3.5% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Truist Financial raised their price target on shares of Leonardo DRS from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Bank of America raised their price target on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Leonardo DRS Trading Up 2.9 %

NASDAQ:DRS traded up $0.60 during mid-day trading on Tuesday, hitting $21.51. 551,658 shares of the company’s stock were exchanged, compared to its average volume of 660,441. The company has a 50 day simple moving average of $21.57 and a 200-day simple moving average of $19.91. The company has a current ratio of 1.78, a quick ratio of 1.47 and a debt-to-equity ratio of 0.15. Leonardo DRS has a fifty-two week low of $14.12 and a fifty-two week high of $24.00. The firm has a market capitalization of $5.65 billion, a P/E ratio of 33.61, a PEG ratio of 3.01 and a beta of 0.80.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $926.00 million for the quarter, compared to the consensus estimate of $880.03 million. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, research analysts expect that Leonardo DRS will post 0.8 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Leonardo DRS by 506.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 68,088 shares of the company’s stock worth $1,364,000 after acquiring an additional 56,863 shares in the last quarter. Barclays PLC grew its stake in shares of Leonardo DRS by 75.4% in the 3rd quarter. Barclays PLC now owns 34,123 shares of the company’s stock worth $571,000 after acquiring an additional 14,664 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Leonardo DRS in the 3rd quarter worth $550,000. Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,415 shares of the company’s stock worth $9,342,000 after acquiring an additional 58,353 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Leonardo DRS by 101.1% in the 3rd quarter. Citigroup Inc. now owns 107,725 shares of the company’s stock worth $1,799,000 after acquiring an additional 54,150 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.