Short Interest in Draganfly Inc. (NASDAQ:DPRO) Drops By 15.7%

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 4,102,996 shares, a drop of 15.7% from the March 31st total of 4,865,636 shares. Currently, 18.8% of the shares of the company are sold short. Based on an average trading volume of 1,755,233 shares, the days-to-cover ratio is currently 2.3 days.

Draganfly Price Performance

NASDAQ DPRO opened at $5.31 on Friday. The firm has a market capitalization of $182.54 million, a price-to-earnings ratio of -4.08 and a beta of 2.58. The company’s fifty day moving average is $6.05 and its two-hundred day moving average is $7.37. Draganfly has a 52-week low of $1.63 and a 52-week high of $14.40.

Draganfly (NASDAQ:DPRO) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $2.78 million. Draganfly had a negative return on equity of 45.65% and a negative net margin of 294.03%. As a group, sell-side analysts expect that Draganfly will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of Draganfly

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DNB Asset Management AS grew its position in Draganfly by 151.5% in the 3rd quarter. DNB Asset Management AS now owns 269,591 shares of the company’s stock worth $2,194,000 after purchasing an additional 162,408 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in Draganfly in the 4th quarter worth $1,569,000. Vident Advisory LLC acquired a new stake in Draganfly in the 4th quarter worth $813,000. Virtu Financial LLC acquired a new stake in Draganfly in the 3rd quarter worth $894,000. Finally, Marshall Wace LLP acquired a new stake in Draganfly in the 4th quarter worth $751,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Draganfly in a report on Monday, March 30th. Needham & Company LLC dropped their target price on shares of Draganfly from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Northland Securities set a $20.00 target price on shares of Draganfly in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of $16.25.

Draganfly Company Profile

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.