Short Interest in Parsons Co. (NYSE:PSN) Expands By 22.1%

Parsons Co. (NYSE:PSN - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 5,640,000 shares, a growth of 22.1% from the January 31st total of 4,620,000 shares. Based on an average trading volume of 1,260,000 shares, the days-to-cover ratio is currently 4.5 days.

Parsons Trading Up 5.1 %

Shares of NYSE PSN traded up $2.92 during mid-day trading on Friday, reaching $60.34. 2,161,590 shares of the company's stock were exchanged, compared to its average volume of 1,639,761. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 79.39, a PEG ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons has a 52-week low of $54.56 and a 52-week high of $114.68. The company's 50-day moving average is $78.64 and its 200-day moving average is $92.84.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Robert W. Baird dropped their target price on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group lowered their price objective on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Finally, KeyCorp lowered their price objective on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Parsons currently has an average rating of "Moderate Buy" and an average target price of $99.44.

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Hedge Funds Weigh In On Parsons

A number of hedge funds and other institutional investors have recently bought and sold shares of PSN. CIBC Private Wealth Group LLC purchased a new position in shares of Parsons in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons during the 4th quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the 4th quarter worth about $26,000. Huntington National Bank raised its position in shares of Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after acquiring an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after acquiring an additional 218 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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.