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

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

Institutional Investors Weigh In On Leonardo DRS

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted 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 worth $58,836,000 after buying an additional 3,225,419 shares in the last quarter. Vanguard Group Inc. grew its stake in Leonardo DRS by 50.8% in 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 period. 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. Madison Avenue Partners LP bought a new stake in shares of Leonardo DRS during the 4th quarter worth $17,507,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Leonardo DRS by 3,753.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,146,805 shares of the company's stock worth $19,886,000 after buying an additional 1,117,045 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Down 1.7 %

Shares of NASDAQ DRS traded down $0.35 during mid-day trading on Friday, reaching $20.60. 455,779 shares of the company's stock traded hands, compared to its average volume of 681,684. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.78 and a quick ratio of 1.47. The business has a 50-day simple moving average of $21.49 and a 200 day simple moving average of $19.85. The stock has a market cap of $5.41 billion, a P/E ratio of 32.19, a PEG ratio of 3.01 and a beta of 0.80. Leonardo DRS has a 1-year low of $14.12 and a 1-year high of $24.00.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $926.00 million for the quarter, compared to analysts' expectations of $880.03 million. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. On average, analysts expect that Leonardo DRS will post 0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DRS. JPMorgan Chase & Co. dropped their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, March 15th. Bank of America upped 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. Finally, Truist Financial raised their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th.

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.

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