Parsons Corp (NYSE:PSN) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 705,800 shares, a drop of 22.3% from the September 30th total of 908,400 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 312,800 shares, the days-to-cover ratio is presently 2.3 days.
Parsons stock traded down $0.19 during mid-day trading on Thursday, hitting $38.02. The stock had a trading volume of 212,781 shares, compared to its average volume of 454,694. The firm’s 50-day moving average is $34.24. Parsons has a 12 month low of $29.03 and a 12 month high of $39.05.
Parsons (NYSE:PSN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.15. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Parsons’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. Research analysts predict that Parsons will post 1.46 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada bought a new position in Parsons in the second quarter valued at about $34,000. US Bancorp DE bought a new position in Parsons during the second quarter worth about $50,000. Clarus Wealth Advisors bought a new position in Parsons during the second quarter worth about $56,000. Bank of Montreal Can bought a new position in Parsons during the second quarter worth about $57,000. Finally, Meeder Asset Management Inc. bought a new position in Parsons during the third quarter worth about $51,000. Institutional investors and hedge funds own 99.60% of the company’s stock.
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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