Draganfly (NASDAQ:DPRO) Downgraded by Wall Street Zen to Sell

Draganfly (NASDAQ:DPRO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

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

Draganfly Stock Down 7.3%

Shares of NASDAQ DPRO opened at $7.67 on Friday. Draganfly has a twelve month low of $1.63 and a twelve month high of $14.40. The firm has a market cap of $41.65 million, a PE ratio of -4.15 and a beta of 2.64. The business has a fifty day simple moving average of $8.82 and a two-hundred day simple moving average of $5.71.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.34 million. Draganfly had a negative return on equity of 71.81% and a negative net margin of 243.20%. On average, research analysts expect that Draganfly will post -3.56 earnings per share for the current year.

Institutional Trading of Draganfly

A number of institutional investors have recently bought and sold shares of DPRO. Jones Financial Companies Lllp increased its stake 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 purchasing an additional 2,351 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Draganfly during the second quarter valued at $35,000. IFP Advisors Inc purchased a new stake in shares of Draganfly during the third quarter valued at $39,000. CWM LLC acquired a new position in shares of Draganfly in the 3rd quarter valued at $61,000. Finally, XTX Topco Ltd acquired a new stake in Draganfly during the 2nd quarter worth about $65,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.

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.