Short Interest in Draganfly Inc. (NASDAQ:DPRO) Grows By 82.9%

Draganfly Inc. (NASDAQ:DPRO) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 364,100 shares, a growth of 82.9% from the April 30th total of 199,100 shares. Based on an average daily volume of 139,500 shares, the short-interest ratio is presently 2.6 days. Approximately 6.8% of the shares of the company are sold short.

Draganfly Trading Down 3.4%

Shares of NASDAQ:DPRO traded down $0.06 during midday trading on Friday, reaching $1.72. The company had a trading volume of 61,567 shares, compared to its average volume of 212,563. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 1.94. Draganfly has a 1-year low of $1.55 and a 1-year high of $7.00. The firm has a market cap of $9.34 million, a price-to-earnings ratio of -0.43 and a beta of 2.34. The company has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $2.94.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.04. Draganfly had a negative return on equity of 1,487.09% and a negative net margin of 227.25%. The business had revenue of $1.08 million during the quarter, compared to analyst estimates of $2.06 million. Research analysts predict that Draganfly will post -3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DPRO. HC Wainwright lowered their target price on Draganfly from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Wall Street Zen lowered Draganfly from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Hedge Funds Weigh In On Draganfly

An institutional investor recently bought a new position in Draganfly stock. Virtu Financial LLC purchased a new position in shares of Draganfly Inc. (NASDAQ:DPRO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,637 shares of the company’s stock, valued at approximately $51,000. Virtu Financial LLC owned approximately 0.64% of Draganfly at the end of the most recent reporting period. 10.39% of the stock is currently owned by hedge funds and other institutional investors.

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 quad-?copters, ???fixed wing ?aircrafts, ground based robots, handheld controllers, and flight training, as well as software ?used for tracking, live ???streaming, ?and data collection.