Leonardo DRS, Inc. (NASDAQ:DRS) Sees Significant Decline in Short Interest

Leonardo DRS, Inc. (NASDAQ:DRSGet Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 2,230,000 shares, a decrease of 8.2% from the May 15th total of 2,430,000 shares. Based on an average trading volume of 557,900 shares, the short-interest ratio is presently 4.0 days. Approximately 3.1% of the company’s shares are sold short.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC raised its stake in Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after buying an additional 1,033 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Leonardo DRS in the 4th quarter worth about $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Leonardo DRS in the 1st quarter worth about $50,000. Comerica Bank grew its position in Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Leonardo DRS during the 4th quarter valued at about $66,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Stock Up 5.3 %

Shares of DRS stock traded up $1.31 during midday trading on Wednesday, reaching $26.11. 827,337 shares of the stock were exchanged, compared to its average volume of 424,366. Leonardo DRS has a 1 year low of $15.74 and a 1 year high of $26.15. The firm has a market cap of $6.87 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.88 and a beta of 0.82. The company’s 50 day moving average is $22.80 and its two-hundred day moving average is $21.25. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRSGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $688.00 million for the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, equities research analysts predict that Leonardo DRS will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America increased their price objective on Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Morgan Stanley started coverage on Leonardo DRS in a research note on Friday, May 24th. They issued an “equal weight” rating and a $26.00 price target for the company. Truist Financial lifted their price target on shares of Leonardo DRS from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th.

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About Leonardo DRS

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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.

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