Leonardo DRS (NASDAQ:DRS) Sees Unusually-High Trading Volume – What’s Next?

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) saw unusually-high trading volume on Tuesday . Approximately 1,128,996 shares changed hands during trading, an increase of 108% from the previous session’s volume of 544,005 shares.The stock last traded at $28.71 and had previously closed at $29.07.

Analyst Ratings Changes

DRS has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial increased their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Leonardo DRS Stock Performance

The stock has a market capitalization of $7.77 billion, a PE ratio of 39.72, a P/E/G ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The business’s fifty day moving average price is $33.94 and its 200-day moving average price is $31.48.

Insider Activity at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the completion of the sale, the senior vice president now directly owns 12,565 shares in the company, valued at $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,089 shares of company stock valued at $5,178,619 over the last three months. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its stake in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares in the last quarter. Covestor Ltd raised its stake in shares of Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after acquiring an additional 1,259 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after acquiring an additional 525 shares in the last quarter. KBC Group NV raised its stake in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after acquiring an additional 771 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Leonardo DRS during the fourth quarter worth approximately $116,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.