Short Interest in Leonardo DRS, Inc. (NASDAQ:DRS) Drops By 11.9%

Leonardo DRS, Inc. (NASDAQ:DRS) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,550,000 shares, a drop of 11.9% from the November 15th total of 1,760,000 shares. Based on an average daily volume of 616,900 shares, the short-interest ratio is presently 2.5 days. Approximately 2.1% of the company’s shares are sold short.

Leonardo DRS Stock Performance

Shares of DRS stock traded down $0.25 on Tuesday, reaching $34.44. The stock had a trading volume of 483,596 shares, compared to its average volume of 620,593. The stock has a market cap of $9.11 billion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $29.03. Leonardo DRS has a 1 year low of $18.60 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same period in the previous year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts expect that Leonardo DRS will post 0.92 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DRS shares. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Robert W. Baird lifted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Insider Transactions at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. The trade was a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Baylouny sold 8,235 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total transaction of $284,107.50. Following the transaction, the chief operating officer now directly owns 81,863 shares of the company’s stock, valued at $2,824,273.50. This represents a 9.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,554 shares of company stock valued at $3,236,679. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank boosted its holdings in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after acquiring an additional 527 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 buying an additional 1,074 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Leonardo DRS by 368.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after buying an additional 8,276 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Leonardo DRS by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 315,335 shares of the company’s stock worth $8,044,000 after buying an additional 27,245 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in Leonardo DRS in the second quarter valued at approximately $213,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.