Wall Street Zen Downgrades Draganfly (NASDAQ:DPRO) to Sell

by · The Cerbat Gem

Draganfly (NASDAQ:DPRO – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Draganfly in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.50.

Get Our Latest Stock Report on Draganfly

Draganfly Price Performance

Draganfly stock opened at $5.33 on Friday. The firm has a market capitalization of $28.94 million, a PE ratio of -3.12 and a beta of 2.44. The company has a quick ratio of 4.80, a current ratio of 5.29 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $3.25. Draganfly has a 52 week low of $1.63 and a 52 week high of $7.30.

Draganfly (NASDAQ:DPRO – Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.02. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $2.24 million. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. On average, equities research analysts predict that Draganfly will post -3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Draganfly

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in Draganfly during the second quarter worth about $35,000. XTX Topco Ltd bought a new stake in shares of Draganfly during the 2nd quarter valued at approximately $65,000. Integrated Advisors Network LLC boosted its position in Draganfly by 46.3% during the 4th quarter. Integrated Advisors Network LLC now owns 30,000 shares of the company’s stock worth $120,000 after buying an additional 9,500 shares during the period. DNB Asset Management AS bought a new position in Draganfly during the 2nd quarter worth approximately $340,000. Finally, Kieckhefer Group LLC lifted its stake in Draganfly by 69.1% in the second quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock valued at $636,000 after buying an additional 82,000 shares during the period. Institutional investors own 10.39% of the company’s stock.

About Draganfly

(Get Free Report)

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.

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