Needham & Company LLC Cuts Draganfly (NASDAQ:DPRO) Price Target to $8.00

Draganfly (NASDAQ:DPRO) had its price objective reduced by equities research analysts at Needham & Company LLC from $12.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 69.49% from the company’s previous close.

DPRO has been the subject of several other reports. Northland Securities set a $13.00 target price on shares of Draganfly in a research report on Tuesday, May 12th. LADENBURG THALM/SH SH raised shares of Draganfly to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright started coverage on shares of Draganfly in a report on Friday, May 29th. They issued a “buy” rating and a $14.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of $13.50.

Draganfly Stock Up 1.5%

Draganfly stock opened at $4.72 on Tuesday. The firm has a 50 day moving average price of $5.11 and a 200-day moving average price of $5.97. Draganfly has a twelve month low of $3.78 and a twelve month high of $14.40. The company has a market capitalization of $162.25 million, a P/E ratio of -4.82 and a beta of 2.73.

Draganfly (NASDAQ:DPRO) last issued its earnings results on Monday, August 10th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). Draganfly had a negative return on equity of 27.88% and a negative net margin of 292.88%.The business had revenue of $3.75 million for the quarter, compared to the consensus estimate of $2.56 million. Equities analysts expect that Draganfly will post -0.52 EPS for the current fiscal year.

Institutional Trading of Draganfly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DPRO. IFP Advisors Inc purchased a new stake in Draganfly in the third quarter worth about $39,000. Purpose Unlimited Inc. purchased a new stake in shares of Draganfly during the fourth quarter worth about $43,000. Wexford Capital LP bought a new stake in Draganfly during the 3rd quarter valued at approximately $67,000. Royal Bank of Canada raised its stake in Draganfly by 478.4% during the 4th quarter. Royal Bank of Canada now owns 8,647 shares of the company’s stock valued at $60,000 after purchasing an additional 7,152 shares during the period. Finally, GK Wealth Management LLC purchased a new position in Draganfly in the 2nd quarter worth approximately $55,000. 10.39% of the stock is owned by hedge funds and other institutional investors.

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.