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

Leonardo DRS, Inc. (NASDAQ:DRS) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,970,000 shares, a drop of 6.6% from the August 31st total of 2,110,000 shares. Based on an average daily trading volume, of 609,500 shares, the short-interest ratio is currently 3.2 days. Currently, 2.7% of the company’s stock are short sold.

Leonardo DRS Price Performance

DRS opened at $27.87 on Monday. Leonardo DRS has a 1 year low of $15.81 and a 1 year high of $29.85. The firm has a market capitalization of $7.35 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The business’s 50-day moving average is $27.70 and its two-hundred day moving average is $24.92.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The business had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Research analysts anticipate that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on DRS. Truist Financial raised their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research raised their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Institutional Investors Weigh In On Leonardo DRS

Large investors have recently modified their holdings of the business. Cetera Investment Advisers acquired a new stake in shares of Leonardo DRS during the second quarter worth about $1,072,000. Algert Global LLC acquired a new stake in shares of Leonardo DRS during the second quarter worth about $202,000. Driehaus Capital Management LLC lifted its holdings in shares of Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after purchasing an additional 102,198 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Leonardo DRS by 6.5% during the second quarter. The Manufacturers Life Insurance Company now owns 48,626 shares of the company’s stock worth $1,240,000 after purchasing an additional 2,958 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Leonardo DRS by 89.7% during the second quarter. AQR Capital Management LLC now owns 55,361 shares of the company’s stock worth $1,412,000 after purchasing an additional 26,185 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

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.