Draganfly (NASDAQ:DPRO) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Draganfly (NASDAQ:DPRO) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks reports.

DPRO has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Draganfly in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of Draganfly from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, LADENBURG THALM/SH SH reduced their price target on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating for the company in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.62.

Draganfly Price Performance

Shares of Draganfly stock opened at $3.06 on Tuesday. The business has a 50-day simple moving average of $4.76 and a 200 day simple moving average of $5.62. Draganfly has a one year low of $3.04 and a one year high of $10.62. The firm has a market capitalization of $105.02 million, a price-to-earnings ratio of -3.92 and a beta of 3.02.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.13). Draganfly had a negative return on equity of 26.61% and a negative net margin of 355.34%. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $2.56 million. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts expect that Draganfly will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Draganfly

Large investors have recently added to or reduced their stakes in the business. World Investment Advisors increased its holdings in Draganfly by 33.3% during the 1st quarter. World Investment Advisors now owns 55,067 shares of the company’s stock worth $270,000 after purchasing an additional 13,753 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Draganfly in the second quarter worth approximately $62,000. Finally, GK Wealth Management LLC bought a new position in shares of Draganfly in the second quarter valued at approximately $55,000. Institutional investors own 10.39% of the company’s stock.

About Draganfly

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.