Leonardo DRS, Inc. (NASDAQ:DRS) Short Interest Down 6.6% in September

Leonardo DRS, Inc. (NASDAQ:DRS) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,970,000 shares, a drop of 6.6% from the August 31st total of 2,110,000 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 609,500 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on DRS. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research raised their price objective on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Truist Financial boosted their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Leonardo DRS currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Leonardo DRS Stock Up 5.2 %

Shares of NASDAQ DRS opened at $29.70 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.94 and a beta of 0.96. The stock has a 50 day moving average price of $27.72 and a 200 day moving average price of $25.02. Leonardo DRS has a 52-week low of $15.81 and a 52-week high of $29.87.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $753.00 million during the quarter, compared to analyst estimates of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. Leonardo DRS’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Sell-side analysts expect that Leonardo DRS will post 0.86 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after purchasing an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at $35,000. EntryPoint Capital LLC lifted its holdings in shares of Leonardo DRS by 165.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after purchasing an additional 1,033 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Leonardo DRS during the 1st quarter valued at $50,000. Finally, Comerica Bank lifted its holdings in shares of 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. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Company Profile

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.