Draganfly (NASDAQ:DPRO) Trading 0.9% Higher – Still a Buy?

Draganfly Inc. (NASDAQ:DPRO) rose 0.9% on Monday . The company traded as high as $5.73 and last traded at $5.67. 620,949 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,829,325 shares. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

Several brokerages have commented on DPRO. Needham & Company LLC dropped their price objective on Draganfly from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Draganfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. LADENBURG THALM/SH SH decreased their price objective on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, HC Wainwright assumed coverage on shares of Draganfly in a research report on Friday, May 29th. They issued a “buy” rating and a $14.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.62.

Draganfly Price Performance

The stock has a market capitalization of $184.26 million, a PE ratio of -6.87 and a beta of 2.80. The company’s 50 day moving average price is $4.84 and its two-hundred day moving average price is $5.43.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). The business had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.56 million. Draganfly had a negative net margin of 355.34% and a negative return on equity of 26.61%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Analysts forecast that Draganfly Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Draganfly

A number of institutional investors have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. purchased a new stake in Draganfly in the 4th quarter valued at $43,000. GK Wealth Management LLC purchased a new stake in shares of Draganfly in the second quarter valued at about $55,000. Bank of New York Mellon Corp purchased a new stake in shares of Draganfly in the second quarter valued at about $62,000. Finally, World Investment Advisors acquired a new stake in Draganfly during the fourth quarter worth about $285,000. Hedge funds and other institutional investors own 10.39% of the company’s stock.

About Draganfly

Draganfly Inc is a Canadian drone technology company that develops unmanned aerial vehicles, software and related services for commercial, public-safety and government applications. Founded in 1999, the company describes itself as one of the longest-operating commercial drone manufacturers.

Its product portfolio includes multirotor and specialized drone platforms, including the Commander 3 XL, Flex FPV and Heavy Lift systems. Draganfly also provides drone-based data collection, aerial imaging, mapping, inspection, artificial intelligence and analytics solutions, as well as pilot training and related professional services.

The company serves markets such as public safety, agriculture, industrial inspection, surveying and mapping, logistics, humanitarian operations and environmental monitoring.