Draganfly Inc. (NASDAQ:DPRO) Stock Has Consensus Price Target of $11.62 According to Analysts

Shares of Draganfly Inc. (NASDAQ:DPRO) have earned an average rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.62.

A number of research firms recently issued reports on DPRO. Needham & Company LLC reiterated a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. Zacks Research raised Draganfly from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. LADENBURG THALM/SH SH reduced their target price on Draganfly from $12.75 to $11.50 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Wall Street Zen cut Draganfly from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th.

Institutional Trading of Draganfly

A number of hedge funds and other institutional investors have recently bought and sold shares of DPRO. GK Wealth Management LLC purchased a new position in Draganfly in the second quarter worth $55,000. Bank of New York Mellon Corp bought a new position in Draganfly in the second quarter valued at $62,000. Finally, World Investment Advisors raised its position in Draganfly by 33.3% during the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock valued at $270,000 after purchasing an additional 13,753 shares in the last quarter. Institutional investors own 10.39% of the company’s stock.

Draganfly Trading Up 13.5%

Draganfly stock opened at $3.19 on Friday. Draganfly has a 1-year low of $2.68 and a 1-year high of $10.62. The firm has a market capitalization of $109.66 million, a price-to-earnings ratio of -4.09 and a beta of 3.02. The firm has a 50 day simple moving average of $4.71 and a 200 day simple moving average of $5.56.

Draganfly (NASDAQ:DPRO) last posted its 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 company had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.56 million. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts forecast that Draganfly will post -0.83 EPS for the current year.

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.