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

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

A number of other research firms also recently issued reports on DPRO. LADENBURG THALM/SH SH decreased their price target on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Needham & Company LLC reduced their target price on shares of Draganfly from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Northland Securities set a $13.00 target price on shares of Draganfly in a research report on Tuesday, May 12th. Finally, HC Wainwright assumed coverage on shares of Draganfly in a report on Friday, May 29th. They issued a “buy” rating and a $14.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, Draganfly currently has an average rating of “Buy” and an average target price of $11.62.

Draganfly Trading Down 4.3%

NASDAQ DPRO opened at $4.68 on Friday. The stock’s 50 day moving average is $4.89 and its 200 day moving average is $5.82. Draganfly has a 12 month low of $3.78 and a 12 month high of $14.40. The stock has a market cap of $160.88 million, a PE ratio of -6.00 and a beta of 2.73.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). Draganfly had a negative net margin of 355.34% and a negative return on equity of 26.61%. The company had revenue of $3.75 million for the quarter, compared to analysts’ expectations of $2.56 million. On average, analysts forecast that Draganfly will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Draganfly

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc purchased a new position in Draganfly during the 3rd quarter valued at about $39,000. Purpose Unlimited Inc. bought a new position in shares of Draganfly in the 4th quarter worth $43,000. Wexford Capital LP purchased a new stake in shares of Draganfly during the 3rd quarter worth $67,000. Royal Bank of Canada lifted its stake in shares of Draganfly by 478.4% during the 4th quarter. Royal Bank of Canada now owns 8,647 shares of the company’s stock worth $60,000 after purchasing an additional 7,152 shares during the last quarter. Finally, GK Wealth Management LLC bought a new stake in Draganfly during the second quarter valued at about $55,000. 10.39% of the stock is currently owned by institutional investors.

About Draganfly

Draganfly Inc (NASDAQ: DPRO) is a Canada-based developer and manufacturer of unmanned aerial systems (UAS) and related software solutions for commercial, government and academic applications. Headquartered in Saskatoon, Saskatchewan, the company specializes in designing lightweight, modular drones that integrate advanced sensor payloads—including high-resolution imaging, multispectral and thermal cameras—to gather aerial data across a range of industries.

The company’s core offerings include turnkey UAS platforms, data-capture payloads and proprietary analytics software that enable clients to perform precision agriculture monitoring, land surveying, infrastructure inspection and environmental assessment.