Parsons Co. (NYSE:PSN) Sees Large Increase in Short Interest

Parsons Co. (NYSE:PSN) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 4,620,000 shares, an increase of 42.2% from the January 15th total of 3,250,000 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSN. KeyCorp cut their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. William Blair cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen lowered their target price on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Parsons has an average rating of “Moderate Buy” and a consensus target price of $107.33.

Institutional Investors Weigh In On Parsons

A number of institutional investors have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in Parsons in the 4th quarter worth about $40,318,000. Comerica Bank raised its holdings in Parsons by 11.5% in the fourth quarter. Comerica Bank now owns 55,956 shares of the company’s stock worth $5,162,000 after buying an additional 5,757 shares during the last quarter. PDT Partners LLC lifted its stake in shares of Parsons by 415.7% in the fourth quarter. PDT Partners LLC now owns 30,991 shares of the company’s stock worth $2,859,000 after buying an additional 24,982 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Parsons by 968.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 26,700 shares of the company’s stock valued at $2,463,000 after buying an additional 24,200 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Parsons by 16.0% during the fourth quarter. AQR Capital Management LLC now owns 416,985 shares of the company’s stock valued at $38,467,000 after acquiring an additional 57,474 shares in the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Down 0.0 %

Shares of Parsons stock traded down $0.04 during midday trading on Friday, hitting $73.37. The company had a trading volume of 1,401,858 shares, compared to its average volume of 1,387,940. Parsons has a 52-week low of $72.12 and a 52-week high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $7.79 billion, a P/E ratio of 111.16, a P/E/G ratio of 1.17 and a beta of 0.73. The company has a 50 day moving average of $88.88 and a 200 day moving average of $96.08.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.