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Investing in Leonardo DRS Inc. (DRS) Is Getting More Attractive

Leonardo DRS Inc.’s recently made public that its 10% Owner Leonardo S.p.a unloaded Company’s shares for reported $353.19 million on Nov 21 ’23. In the deal valued at $17.06 per share,20,700,000 shares were sold. As a result of this transaction, Leonardo S.p.a now holds 189,745,073 shares worth roughly $4.33 billion.

JP Morgan initiated its Leonardo DRS Inc. [DRS] rating to a Neutral in a research note published on February 26, 2024; the price target was $23. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. Truist began covering DRS with “Buy” recommendation on June 09, 2023. CJS Securities started covering the stock on April 04, 2023. It rated DRS as “a Market outperform”.

Price Performance Review of DRS

On Monday, Leonardo DRS Inc. [NASDAQ:DRS] saw its stock jump 0.53% to $22.84. Over the last five days, the stock has gained 5.99%. Leonardo DRS Inc. shares have risen nearly 13.97% since the year began. Nevertheless, the stocks have risen 49.09% over the past one year. While a 52-week high of $24.00 was reached on 03/08/24, a 52-week low of $14.12 was recorded on 01/08/24. SMA at 50 days reached $21.75, while 200 days put it at $19.37. A total of 0.57 million shares were traded, compared to the trading of 0.41 million shares in the previous session.

Levels Of Support And Resistance For DRS Stock

The 24-hour chart illustrates a support level at 22.65, which if violated will result in even more drops to 22.45. On the upside, there is a resistance level at 23.02. A further resistance level may holdings at 23.20. The Relative Strength Index (RSI) on the 14-day chart is 64.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.43%. Stochastics %K at 95.57% indicates the stock is a selling.

The most recent change occurred on February 10, 2023 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating along with a $17 price target.

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