Leonardo DRS (NASDAQ:DRS) Sees Unusually-High Trading Volume

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) saw unusually-strong trading volume on Friday . Approximately 1,614,256 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 707,365 shares.The stock last traded at $18.43 and had previously closed at $18.46.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DRS shares. Truist Financial raised their price target on Leonardo DRS from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Bank of America began coverage on Leonardo DRS in a research note on Wednesday, September 27th. They set a “buy” rating and a $20.00 target price for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $18.80.

Leonardo DRS Stock Performance

The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 29.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.83. The company has a fifty day moving average of $18.19 and a two-hundred day moving average of $17.06.

Hedge Funds Weigh In On Leonardo DRS

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Leonardo DRS by 9.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,125 shares of the company’s stock worth $170,000 after buying an additional 1,100 shares in the last quarter. Swiss National Bank grew its position in Leonardo DRS by 1.0% during the 2nd quarter. Swiss National Bank now owns 113,400 shares of the company’s stock worth $1,966,000 after acquiring an additional 1,100 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Leonardo DRS by 196.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,825 shares of the company’s stock worth $49,000 after acquiring an additional 1,872 shares during the last quarter. Royal Bank of Canada grew its position in Leonardo DRS by 66.0% during the 2nd quarter. Royal Bank of Canada now owns 6,012 shares of the company’s stock worth $104,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Leonardo DRS during the 1st quarter worth $33,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products, systems, and military support service. 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.