Leonardo DRS, Inc. (NASDAQ:DRS) Sees Large Decline in Short Interest

Leonardo DRS, Inc. (NASDAQ:DRS) was the target of a significant drop in short interest during 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. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 616,900 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Leonardo DRS

In other news, EVP Sally Wallace sold 4,339 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $151,040.59. Following the sale, the executive vice president now directly owns 30,102 shares of the company’s stock, valued at approximately $1,047,850.62. This represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John Baylouny sold 8,235 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.50, for a total transaction of $284,107.50. Following the completion of the transaction, the chief operating officer now owns 81,863 shares of the company’s stock, valued at $2,824,273.50. This trade represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,554 shares of company stock worth $3,236,679. Insiders own 0.12% of the company’s stock.

Institutional Trading of Leonardo DRS

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Leonardo DRS by 1,325.9% in 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. Covestor Ltd boosted its stake in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter. Comerica Bank grew its stake 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 acquiring an additional 527 shares during the period. KBC Group NV increased its position in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Leonardo DRS in the third quarter worth about $109,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Shares of DRS stock traded down $0.13 during trading hours on Friday, hitting $34.09. The company’s stock had a trading volume of 729,632 shares, compared to its average volume of 621,636. The company has a 50 day moving average of $32.65 and a 200 day moving average of $28.91. The stock has a market cap of $9.01 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS has a 12-month low of $18.60 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly 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. The firm had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. On average, sell-side analysts forecast that Leonardo DRS will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.