Leonardo (OTCMKTS:FINMY) Trading Down 5% – Here’s Why

Leonardo S.P.A. – Unsponsored ADR (OTCMKTS:FINMY) dropped 5% during trading on Friday . The stock traded as low as $33.10 and last traded at $33.10. Approximately 1,769 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 92,172 shares. The stock had previously closed at $34.84.

Analysts Set New Price Targets

FINMY has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Leonardo in a report on Friday, January 30th. Barclays upgraded shares of Leonardo from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 9th. Citigroup upgraded shares of Leonardo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded Leonardo from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Leonardo Trading Down 5.5%

The company’s 50-day simple moving average is $34.06 and its 200-day simple moving average is $31.53.

About Leonardo

Leonardo S.p.A. is an Italy-based global aerospace, defence and security company that designs, manufactures and supports a broad range of products and systems for military, government and commercial customers. Its core activities span helicopters and fixed-wing aircraft, avionics and mission systems, air and naval defence electronics (including radars and sensors), cybersecurity and secure communications, as well as space systems and services. The company also provides systems integration, mission support, maintenance, repair and overhaul (MRO) and training services across its product lines.

The business traces its modern identity to the former Finmeccanica group and was rebranded as Leonardo in 2017, reflecting a strategic emphasis on technology, research and innovation.