Draganfly (NASDAQ:DPRO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Draganfly (NASDAQ:DPRO) from a hold rating to a sell rating in a report published on Saturday.

A number of other equities analysts have also issued reports on DPRO. Needham & Company LLC assumed coverage on shares of Draganfly in a research report on Thursday. They set a “buy” rating and a $20.00 target price on the stock. HC Wainwright set a $14.00 target price on shares of Draganfly and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Draganfly presently has a consensus rating of “Buy” and a consensus price target of $17.00.

Draganfly Stock Performance

Shares of Draganfly stock opened at $9.69 on Friday. The firm has a market capitalization of $52.62 million, a P/E ratio of -5.67 and a beta of 2.61. Draganfly has a 52 week low of $1.63 and a 52 week high of $14.40. 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 moving average is $7.71 and its two-hundred day moving average is $4.87.

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

Institutional Investors Weigh In On Draganfly

A number of hedge funds and other institutional investors have recently bought and sold shares of DPRO. Kieckhefer Group LLC lifted its holdings in Draganfly by 57.3% in the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock valued at $2,569,000 after acquiring an additional 115,000 shares during the period. DNB Asset Management AS acquired a new stake in Draganfly in the second quarter valued at $340,000. XTX Topco Ltd acquired a new stake in Draganfly in the second quarter valued at $65,000. Jane Street Group LLC acquired a new stake in Draganfly in the second quarter valued at $35,000. Finally, SG Americas Securities LLC acquired a new stake in Draganfly in the third quarter valued at $89,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

About Draganfly

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.