Draganfly (NASDAQ:DPRO) Rating Increased to Hold at Wall Street Zen

Draganfly (NASDAQ:DPRO) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other brokerages have also recently issued reports on DPRO. HC Wainwright set a $14.00 price objective on Draganfly and gave the stock a “buy” rating in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH assumed coverage on Draganfly in a report on Wednesday, November 5th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Needham & Company LLC cut their price target on Draganfly from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Draganfly currently has an average rating of “Buy” and an average target price of $15.67.

Draganfly Price Performance

DPRO stock opened at $7.32 on Friday. Draganfly has a 12 month low of $1.63 and a 12 month high of $14.40. The firm’s 50-day moving average is $8.70 and its 200 day moving average is $5.51. The company has a market capitalization of $39.75 million, a PE ratio of -3.96 and a beta of 2.61.

Draganfly (NASDAQ:DPRO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. The business had revenue of $1.57 million for the quarter, compared to the consensus estimate of $2.34 million. Draganfly had a negative net margin of 243.20% and a negative return on equity of 71.81%. Sell-side analysts forecast that Draganfly will post -3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kieckhefer Group LLC raised its position in shares of Draganfly by 69.1% in the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock worth $636,000 after acquiring an additional 82,000 shares in the last quarter. DNB Asset Management AS purchased a new position in Draganfly in the second quarter valued at about $340,000. XTX Topco Ltd bought a new position in Draganfly in the second quarter worth about $65,000. Jane Street Group LLC bought a new position in Draganfly in the second quarter worth about $35,000. Finally, CWM LLC purchased a new stake in shares of Draganfly during the third quarter valued at about $61,000. 10.39% of the stock is currently owned by hedge funds and other institutional investors.

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.