Draganfly Inc. (NASDAQ:DPRO) Sees Large Increase in Short Interest

Draganfly Inc. (NASDAQ:DPRO) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 2,350,000 shares, anincreaseof47.8% from the July 15th total of 1,590,000 shares. Based on an average daily volume of 3,370,000 shares, the short-interest ratio is presently 0.7 days. Currently,43.9% of the company’s shares are sold short. Currently,43.9% of the company’s shares are sold short. Based on an average daily volume of 3,370,000 shares, the short-interest ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

DPRO has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Draganfly in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of Draganfly from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Draganfly has a consensus rating of “Buy” and an average target price of $6.50.

Draganfly Stock Performance

Shares of NASDAQ:DPRO opened at $4.17 on Thursday. The company has a market capitalization of $22.64 million, a price-to-earnings ratio of -2.44 and a beta of 2.44. The firm’s 50 day simple moving average is $4.13 and its 200 day simple moving average is $3.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 4.80. Draganfly has a fifty-two week low of $1.55 and a fifty-two week high of $7.30.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.24 million. As a group, sell-side analysts forecast that Draganfly will post -3.56 earnings per share for the current year.

Institutional Trading of Draganfly

Large investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in Draganfly during the 2nd quarter worth approximately $35,000. XTX Topco Ltd bought a new stake in Draganfly during the 2nd quarter worth approximately $65,000. Integrated Advisors Network LLC increased its stake 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 purchasing an additional 9,500 shares in the last quarter. DNB Asset Management AS bought a new stake in Draganfly during the 2nd quarter worth approximately $340,000. Finally, Kieckhefer Group LLC increased its stake in Draganfly by 69.1% during the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock worth $636,000 after purchasing an additional 82,000 shares in the last quarter. 10.39% of the stock is owned by 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.