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

Leonardo DRS, Inc. (NASDAQ:DRS) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,750,000 shares, a growth of 11.5% from the December 15th total of 1,570,000 shares. Based on an average daily trading volume, of 631,900 shares, the short-interest ratio is presently 2.8 days. Approximately 2.4% of the company’s shares are sold short.

Insider Buying and Selling

In related news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the transaction, the chief operating officer now owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at approximately $8,004,303.59. This represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,083 shares of company stock worth $3,349,255. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its position in shares of Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after buying an additional 102,198 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after purchasing an additional 51,014 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Leonardo DRS by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after purchasing an additional 82,049 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after purchasing an additional 384,522 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DRS. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird boosted their target price on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Bank of America lowered shares of 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Leonardo DRS Stock Up 2.2 %

Shares of NASDAQ:DRS traded up $0.76 during mid-day trading on Monday, hitting $35.61. 650,025 shares of the company traded hands, compared to its average volume of 521,110. The firm’s 50 day simple moving average is $34.16 and its 200 day simple moving average is $30.41. The firm has a market cap of $9.42 billion, a P/E ratio of 48.12, a PEG ratio of 1.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS has a 52-week low of $18.73 and a 52-week high of $37.99.

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