Draganfly (NASDAQ:DPRO) Trading Down 10.2% – Time to Sell?

Draganfly Inc. (NASDAQ:DPRO) shares traded down 10.2% during mid-day trading on Tuesday . The company traded as low as $8.60 and last traded at $8.70. 2,313,563 shares traded hands during trading, a decline of 5% from the average session volume of 2,427,749 shares. The stock had previously closed at $9.69.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC initiated coverage on Draganfly in a report on Thursday, October 30th. They set a “buy” rating and a $20.00 target price for the company. HC Wainwright set a $14.00 price objective on shares of Draganfly and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Draganfly from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.00.

Draganfly Stock Down 10.2%

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 4.80. The company has a fifty day moving average price of $7.71 and a 200 day moving average price of $4.87. The company has a market cap of $47.24 million, a PE ratio of -5.09 and a beta of 2.61.

Draganfly (NASDAQ:DPRO) last announced its earnings results on Monday, August 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.24 million. As a group, analysts anticipate that Draganfly Inc. will post -3.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kieckhefer Group LLC raised its position in Draganfly by 57.3% during the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock valued at $2,569,000 after purchasing an additional 115,000 shares in the last quarter. DNB Asset Management AS purchased a new position in shares of Draganfly during the 2nd quarter valued at about $340,000. XTX Topco Ltd purchased a new position in shares of Draganfly during the 2nd quarter valued at about $65,000. Jane Street Group LLC bought a new stake in Draganfly in the 2nd quarter worth approximately $35,000. Finally, SG Americas Securities LLC purchased a new stake in Draganfly in the third quarter worth approximately $89,000. Institutional investors own 10.39% of the company’s stock.

About Draganfly

Draganfly Inc develops, manufactures, and sells cutting-edge unmanned and remote data collection and analysis platforms and systems in the United States and Canada. The company offers quadcopters, fixed-wing aircraft, ground-based robots, handheld controllers, and flight training, as well as software used for tracking, live streaming, and data collection.