Draganfly (NASDAQ:DPRO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Draganfly (NASDAQ:DPRO) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other research analysts have also issued reports on the company. HC Wainwright set a $14.00 price target on Draganfly and gave the stock a “buy” rating in a report on Wednesday, October 8th. Needham & Company LLC initiated coverage on Draganfly in a report on Thursday. They issued a “buy” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Draganfly presently has an average rating of “Buy” and a consensus target price of $17.00.

Draganfly Stock Up 11.6%

Shares of NASDAQ:DPRO opened at $10.95 on Friday. The business’s 50 day simple moving average is $7.60 and its two-hundred day simple moving average is $4.80. The firm has a market cap of $59.44 million, a P/E ratio of -6.40 and a beta of 2.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. Draganfly has a 52-week low of $1.63 and a 52-week high of $14.40.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.02. The business had revenue of $1.55 million for the quarter, compared to analyst estimates of $2.24 million. Draganfly had a negative return on equity of 197.71% and a negative net margin of 181.76%. As a group, research analysts forecast that Draganfly will post -3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Draganfly in the third quarter valued at approximately $89,000. Kieckhefer Group LLC lifted its holdings in shares of Draganfly by 57.3% in the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock valued at $2,569,000 after purchasing an additional 115,000 shares in the last quarter. CWM LLC bought a new position in shares of Draganfly in the third quarter valued at approximately $61,000. Jane Street Group LLC bought a new position in shares of Draganfly in the second quarter valued at approximately $35,000. Finally, XTX Topco Ltd bought a new position in shares of Draganfly in the second quarter valued at approximately $65,000. Institutional investors own 10.39% of the company’s stock.

Draganfly Company Profile

Draganfly Inc develops, manufactures, and sells cutting-edge unmanned and remote data collection and analysis platforms and systems in the United States and Canada. The company offers quadcopters, fixed-wing aircraft, ground-based robots, handheld controllers, and flight training, as well as software used for tracking, live streaming, and data collection.