Draganfly (NASDAQ:DPRO) Announces Quarterly Earnings Results

Draganfly (NASDAQ:DPRO) announced its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01, Zacks reports. Draganfly had a negative net margin of 243.20% and a negative return on equity of 184.87%. The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.34 million.

Draganfly Stock Performance

NASDAQ:DPRO traded down $0.36 on Friday, hitting $6.88. The company’s stock had a trading volume of 2,182,364 shares, compared to its average volume of 2,424,348. 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 one year low of $1.63 and a one year high of $14.40. The stock has a fifty day moving average of $8.26 and a two-hundred day moving average of $5.14. The firm has a market capitalization of $37.34 million, a P/E ratio of -3.72 and a beta of 2.61.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright set a $14.00 price objective on shares of Draganfly and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered Draganfly from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. LADENBURG THALM/SH SH began coverage on Draganfly in a research report on Wednesday, November 5th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on Draganfly from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Draganfly has a consensus rating of “Buy” and a consensus price target of $15.67.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Draganfly stock. Jane Street Group LLC bought a new position in shares of Draganfly Inc. (NASDAQ:DPRO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,110 shares of the company’s stock, valued at approximately $35,000. Jane Street Group LLC owned approximately 0.20% of Draganfly as of its most recent SEC filing. 10.39% of the stock is owned by institutional investors and hedge funds.

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.