Draganfly (NASDAQ:DPRO) Price Target Cut to $14.00 by Analysts at Needham & Company LLC

Draganfly (NASDAQ:DPRO) had its price objective reduced by Needham & Company LLC from $20.00 to $14.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on DPRO. HC Wainwright set a $14.00 target price on Draganfly and gave the stock a “buy” rating in a report on Wednesday, October 8th. 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, Wall Street Zen downgraded Draganfly from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.67.

Draganfly Stock Down 5.0%

NASDAQ DPRO traded down $0.36 during trading hours on Thursday, reaching $6.88. 2,184,621 shares of the company’s stock were exchanged, compared to its average volume of 3,017,414. The company’s 50-day moving average is $8.31 and its two-hundred day moving average is $5.17. Draganfly has a one year low of $1.63 and a one year high of $14.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. The company has a market capitalization of $37.36 million, a price-to-earnings ratio of -3.72 and a beta of 2.61.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.34 million. Draganfly had a negative net margin of 243.20% and a negative return on equity of 184.87%. On average, analysts forecast that Draganfly will post -3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Draganfly

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in Draganfly by 224.3% during the third quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock worth $28,000 after buying an additional 2,351 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Draganfly during the 2nd quarter worth approximately $35,000. CWM LLC acquired a new position in shares of Draganfly during the 3rd quarter worth approximately $61,000. XTX Topco Ltd bought a new stake in Draganfly in the 2nd quarter valued at $65,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Draganfly in the 3rd quarter valued at $77,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.

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.