Draganfly Inc. $DPRO Stock Sold by Kieckhefer Group LLC

Kieckhefer Group LLC lowered its position in Draganfly Inc. (NASDAQ:DPRO) by 82.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,000 shares of the company’s stock after selling 260,657 shares during the period. Kieckhefer Group LLC owned 0.16% of Draganfly worth $334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Draganfly during the 2nd quarter worth $62,000. GK Wealth Management LLC acquired a new position in Draganfly during the second quarter worth $55,000. World Investment Advisors raised its holdings in Draganfly by 33.3% during the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock valued at $270,000 after buying an additional 13,753 shares in the last quarter. Finally, Purpose Unlimited Inc. acquired a new stake in shares of Draganfly in the fourth quarter worth about $43,000. Institutional investors own 10.39% of the company’s stock.

Draganfly Stock Down 0.4%

DPRO stock traded down $0.01 during mid-day trading on Tuesday, reaching $4.18. 440,524 shares of the stock traded hands, compared to its average volume of 1,699,370. Draganfly Inc. has a 52 week low of $3.78 and a 52 week high of $13.84. The business has a 50-day moving average of $5.10 and a two-hundred day moving average of $5.31. The firm has a market capitalization of $143.86 million, a PE ratio of -5.37 and a beta of 2.91.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.13). Draganfly had a negative net margin of 355.34% and a negative return on equity of 26.61%. The business had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.56 million. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Draganfly Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Draganfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Needham & Company LLC reissued a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. Zacks Research lowered Draganfly from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, LADENBURG THALM/SH SH decreased their target price on Draganfly from $12.75 to $11.50 and set a “buy” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Draganfly presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.62.

Draganfly Company Profile

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. The company designs and manufactures drones for applications that include public safety, emergency response, industrial inspection, agriculture, mapping, surveying, delivery and defense-related operations.

Its product portfolio includes multirotor and fixed-wing aircraft, customized unmanned systems, drone payloads and autonomous flight technologies. Draganfly also provides data collection, aerial imaging, engineering, training and drone-as-a-service solutions designed to help organizations gather information and perform tasks remotely.

Founded in 1999, Draganfly describes itself as one of the oldest commercial drone manufacturers.