Draganfly (NASDAQ:DPRO) Stock Rating Lowered by Zacks Research

by · The Markets Daily

Draganfly (NASDAQ:DPRO – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other analysts have also weighed in on the stock. Wall Street Zen lowered shares of Draganfly from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. LADENBURG THALM/SH SH decreased their price target on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.62.

Read Our Latest Stock Analysis on Draganfly

Draganfly Stock Up 2.0%

DPRO stock opened at $5.00 on Monday. The firm has a market capitalization of $171.88 million, a PE ratio of -6.41 and a beta of 2.91. Draganfly has a twelve month low of $3.78 and a twelve month high of $14.40. The stock has a 50-day simple moving average of $5.07 and a two-hundred day simple moving average of $5.36.

Draganfly (NASDAQ:DPRO – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.24) earnings per share 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 company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $2.56 million. The company’s revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Draganfly will post -0.83 EPS for the current fiscal year.

Institutional Trading of Draganfly

Several institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors bought a new stake in Draganfly in the fourth quarter valued at approximately $285,000. Bank of New York Mellon Corp bought a new position in shares of Draganfly in the second quarter worth approximately $62,000. GK Wealth Management LLC purchased a new position in shares of Draganfly in the second quarter worth $55,000. Finally, Purpose Unlimited Inc. purchased a new position in shares of Draganfly in the fourth quarter worth $43,000. 10.39% of the stock is currently owned by hedge funds and other institutional investors.

About Draganfly

(Get Free Report)

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.

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