Traders Purchase High Volume of Draganfly Call Options (NASDAQ:DPRO)

Draganfly Inc. (NASDAQ:DPRO) saw unusually large options trading on Tuesday. Investors bought 15,159 call options on the stock. This represents an increase of approximately 227% compared to the average volume of 4,641 call options.

Hedge Funds Weigh In On Draganfly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Draganfly during the second quarter worth about $35,000. XTX Topco Ltd bought a new position in shares of Draganfly during the 2nd quarter worth approximately $65,000. DNB Asset Management AS bought a new position in shares of Draganfly during the 2nd quarter worth approximately $340,000. Finally, Kieckhefer Group LLC grew its stake in shares of 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 acquiring an additional 82,000 shares in the last quarter. 10.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on DPRO. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Draganfly in a report on Wednesday, August 13th. Wall Street Zen cut Draganfly from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Draganfly has a consensus rating of “Buy” and a consensus target price of $6.50.

Draganfly Trading Up 27.0%

Draganfly stock traded up $1.88 during mid-day trading on Tuesday, hitting $8.83. The stock had a trading volume of 41,044,554 shares, compared to its average volume of 1,803,521. The company has a current ratio of 5.29, a quick ratio of 4.80 and a debt-to-equity ratio of 0.01. Draganfly has a 12 month low of $1.63 and a 12 month high of $9.18. The stock has a market capitalization of $47.92 million, a PE ratio of -5.14 and a beta of 2.44. The stock has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $3.53.

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

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.