Leonardo DRS, Inc. (NASDAQ:DRS) Short Interest Down 11.9% in November

Leonardo DRS, Inc. (NASDAQ:DRS) saw a significant drop in short interest in 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. Currently, 2.1% of the company’s stock are short sold. Based on an average trading volume of 616,900 shares, the short-interest ratio is presently 2.5 days.

Leonardo DRS Stock Performance

NASDAQ DRS traded down $0.25 on Tuesday, reaching $34.44. 483,640 shares of the company’s stock traded hands, compared to its average volume of 620,593. Leonardo DRS has a fifty-two week low of $18.60 and a fifty-two week high of $37.99. 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 firm has a market cap of $9.11 billion, a price-to-earnings ratio of 46.88, a P/E/G ratio of 1.76 and a beta of 0.97. The stock has a 50 day moving average price of $32.74 and a 200-day moving average price of $29.03.

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

Insider Buying and Selling at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the company’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 transaction, the chief executive officer now owns 234,937 shares in the company, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Dippold sold 25,880 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total transaction of $881,990.40. Following the completion of the transaction, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,554 shares of company stock worth $3,236,679 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted 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 worth $29,000 after acquiring an additional 1,074 shares in the last quarter. Covestor Ltd boosted its position in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares in the last quarter. Comerica Bank boosted its position in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares in the last quarter. KBC Group NV grew its holdings in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Leonardo DRS in the third quarter valued at approximately $109,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DRS. JPMorgan Chase & Co. boosted their price objective 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. Robert W. Baird boosted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

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.