Draganfly (NASDAQ:DPRO) Shares Down 12.6% – What’s Next?

Draganfly Inc. (NASDAQ:DPRO)’s stock price was down 12.6% on Thursday . The company traded as low as $7.69 and last traded at $7.82. Approximately 2,723,576 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 2,427,743 shares. The stock had previously closed at $8.95.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DPRO shares. LADENBURG THALM/SH SH started coverage on shares of Draganfly in a research report on Wednesday. They issued a “buy” rating and a $19.00 target price on the stock. Wall Street Zen downgraded shares of Draganfly from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Needham & Company LLC started coverage on shares of Draganfly in a research report on Thursday, October 30th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, HC Wainwright set a $14.00 target price on shares of Draganfly and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.67.

Draganfly Stock Down 12.6%

The company’s 50-day moving average is $7.88 and its 200 day moving average is $4.94. The company has a market capitalization of $42.46 million, a PE ratio of -4.57 and a beta of 2.61. 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 (NASDAQ:DPRO) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. The firm had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.24 million. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. As a group, analysts anticipate that Draganfly Inc. will post -3.56 EPS for the current year.

Institutional Investors Weigh In On Draganfly

A number of institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its holdings in Draganfly by 224.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after buying an additional 2,351 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Draganfly in the third quarter valued at $89,000. Kieckhefer Group LLC boosted its stake in Draganfly by 57.3% during the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock worth $2,569,000 after buying an additional 115,000 shares during the period. CWM LLC purchased a new position in Draganfly during the third quarter worth $61,000. Finally, Jane Street Group LLC purchased a new position in Draganfly during the second quarter worth $35,000. 10.39% of the stock is owned by hedge funds and other institutional investors.

About Draganfly

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.