HC Wainwright Cuts Draganfly (NASDAQ:DPRO) Price Target to $3.50

Draganfly (NASDAQ:DPRO) had its price target lowered by HC Wainwright from $5.00 to $3.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Wall Street Zen cut shares of Draganfly from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Draganfly Stock Up 28.0%

DPRO stock opened at $2.97 on Friday. Draganfly has a 52 week low of $1.55 and a 52 week high of $6.09. The business has a 50-day simple moving average of $2.28 and a 200 day simple moving average of $2.91. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.13 million, a PE ratio of -0.98 and a beta of 2.09.

Draganfly (NASDAQ:DPRO) last released its earnings results on Thursday, May 8th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.04. The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $2.06 million. Draganfly had a negative net margin of 227.19% and a negative return on equity of 831.19%. Sell-side analysts anticipate that Draganfly will post -3.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Draganfly

An institutional investor recently raised its position in Draganfly stock. Integrated Advisors Network LLC raised its holdings in Draganfly Inc. (NASDAQ:DPRO) by 46.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the company’s stock after acquiring an additional 9,500 shares during the period. Integrated Advisors Network LLC owned about 1.52% of Draganfly worth $120,000 at the end of the most recent quarter. 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.