Draganfly Inc. (DPRO) – What Are Analysts Thinking About This Stock?

Draganfly Inc. (NASDAQ:DPRO) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.62.

Several research analysts recently commented on the company. LADENBURG THALM/SH SH cut their price target on Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Zacks Research lowered Draganfly from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Wall Street Zen lowered Draganfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Needham & Company LLC restated a “buy” rating on shares of Draganfly in a report on Tuesday, September 29th.

Institutional Trading of Draganfly

A number of hedge funds have recently made changes to their positions in DPRO. World Investment Advisors increased its stake in shares of Draganfly by 33.3% in the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock worth $270,000 after buying an additional 13,753 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Draganfly in the second quarter valued at $62,000. Finally, GK Wealth Management LLC acquired a new stake in Draganfly in the second quarter valued at $55,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

Draganfly Price Performance

NASDAQ:DPRO opened at $3.51 on Friday. The firm has a 50-day moving average of $4.83 and a two-hundred day moving average of $5.72. The stock has a market cap of $120.66 million, a P/E ratio of -4.50 and a beta of 2.91. Draganfly has a 1-year low of $3.31 and a 1-year high of $11.28.

Draganfly (NASDAQ:DPRO) last announced its earnings results on Monday, August 10th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.93 million for the quarter, compared to analyst estimates of $2.56 million. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts expect that Draganfly will post -0.83 earnings per share for the current year.

Draganfly Company Profile

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. Its solutions are designed for public safety, defense and security, agriculture, industrial inspection, mapping, surveying, environmental monitoring and delivery applications.

The company’s offerings include remotely piloted aircraft, autonomous drone systems, payloads, flight-control technology, data-collection tools and professional services. Draganfly also provides drone design, manufacturing, training, consulting and operational support, helping organizations collect aerial imagery and other data for analysis and decision-making.

Founded in 1998, Draganfly describes itself as one of the early commercial drone manufacturers.