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

Leonardo DRS, Inc. (NASDAQ:DRS) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,500,000 shares, a decrease of 13.2% from the March 15th total of 2,880,000 shares. Based on an average daily volume of 665,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.5% of the company’s shares are sold short.

Analyst Ratings Changes

DRS has been the subject of a number of research analyst reports. Bank of America raised their price target on Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. dropped their price target on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Truist Financial raised their price target on Leonardo DRS from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th.

Hedge Funds Weigh In On Leonardo DRS

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Leonardo DRS by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after purchasing an additional 2,490,447 shares during the last quarter. BlackRock Inc. increased its position in shares of Leonardo DRS by 1,923.5% during the 2nd quarter. BlackRock Inc. now owns 3,393,104 shares of the company’s stock valued at $58,836,000 after purchasing an additional 3,225,419 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Leonardo DRS by 143.9% during the 1st quarter. Macquarie Group Ltd. now owns 3,218,170 shares of the company’s stock valued at $41,740,000 after purchasing an additional 1,898,539 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Leonardo DRS by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,890,159 shares of the company’s stock valued at $37,880,000 after purchasing an additional 299,275 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Leonardo DRS by 0.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,718,626 shares of the company’s stock valued at $29,801,000 after purchasing an additional 11,715 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Up 2.9 %

Leonardo DRS stock traded up $0.60 on Tuesday, hitting $21.51. 551,658 shares of the stock traded hands, compared to its average volume of 660,441. The company has a current ratio of 1.78, a quick ratio of 1.47 and a debt-to-equity ratio of 0.15. The firm has a market cap of $5.65 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 3.01 and a beta of 0.80. The business’s fifty day simple moving average is $21.57 and its 200 day simple moving average is $19.91. Leonardo DRS has a 1 year low of $14.12 and a 1 year high of $24.00.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $926.00 million during the quarter, compared to analyst estimates of $880.03 million. Leonardo DRS had a return on equity of 8.72% and a net margin of 5.94%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that Leonardo DRS will post 0.8 earnings per share 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.