Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,880,000 shares, a drop of 14.0% from the February 29th total of 3,350,000 shares. Currently, 4.1% of the company's shares are short sold. Based on an average daily trading volume, of 649,400 shares, the days-to-cover ratio is currently 4.4 days.
Leonardo DRS Stock Performance
Shares of DRS stock traded up $0.26 during trading on Friday, hitting $22.09. The company's stock had a trading volume of 446,528 shares, compared to its average volume of 722,145. 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 company has a market cap of $5.80 billion, a PE ratio of 34.52, a P/E/G ratio of 3.22 and a beta of 0.81. The business has a fifty day moving average of $21.22 and a 200-day moving average of $19.51. Leonardo DRS has a 52 week low of $10.80 and a 52 week high of $24.00.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The company had revenue of $926.00 million for the quarter, compared to analysts' expectations of $880.03 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Leonardo DRS's revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that Leonardo DRS will post 0.8 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates purchased a new stake in Leonardo DRS during the 4th quarter worth about $263,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Leonardo DRS in the fourth quarter worth about $154,000. Advisor Group Holdings Inc. purchased a new stake in shares of Leonardo DRS in the fourth quarter worth about $135,000. Sei Investments Co. bought a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $1,764,000. Finally, Bank of America Corp DE purchased a new position in Leonardo DRS during the fourth quarter valued at approximately $247,000. 18.76% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on DRS. JPMorgan Chase & Co. decreased their target price on Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, March 15th. Truist Financial boosted their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Finally, Bank of America upped their target price on Leonardo DRS from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, March 15th.
Check Out Our Latest Stock Report on DRS
About Leonardo DRS
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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.
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