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

Leonardo DRS, Inc. (NASDAQ:DRS) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,480,000 shares, an increase of 11.2% from the May 31st total of 2,230,000 shares. Based on an average daily trading volume, of 588,700 shares, the short-interest ratio is currently 4.2 days. Approximately 3.4% of the shares of the stock are short sold.

Institutional Trading of Leonardo DRS

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC boosted its position in Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after purchasing an additional 1,033 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Leonardo DRS in the fourth quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Leonardo DRS in the first quarter valued at approximately $50,000. Comerica Bank increased its position in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Leonardo DRS in the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Leonardo DRS in a report on Friday, May 24th. They set an “equal weight” rating and a $26.00 price target on the stock. Truist Financial upped 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. Bank of America upped their price target on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. lowered their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, BTIG Research assumed coverage on shares of Leonardo DRS in a research report on Wednesday, June 26th. They issued a “buy” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and an average target price of $26.60.

Leonardo DRS Stock Performance

Leonardo DRS stock traded up $0.26 during mid-day trading on Wednesday, reaching $25.74. 186,385 shares of the company traded hands, compared to its average volume of 627,861. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59. Leonardo DRS has a fifty-two week low of $15.75 and a fifty-two week high of $26.63. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 36.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.89. The firm’s fifty day moving average is $23.71 and its two-hundred day moving average is $21.73.

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

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.