Draganfly (NASDAQ:DPRO) Stock Price Up 8.3% – What’s Next?

Draganfly Inc. (NASDAQ:DPRO) shot up 8.3% during mid-day trading on Friday . The stock traded as high as $8.47 and last traded at $8.47. 2,790,783 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 2,429,890 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

DPRO has been the topic of several research reports. LADENBURG THALM/SH SH initiated coverage on shares of Draganfly in a report on Wednesday. They set a “buy” rating and a $19.00 price objective on the stock. HC Wainwright set a $14.00 target price on shares of Draganfly and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC assumed coverage on shares of Draganfly in a research report on Thursday, October 30th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen downgraded Draganfly from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.67.

Draganfly Price Performance

The company has a market capitalization of $45.99 million, a P/E ratio of -4.95 and a beta of 2.61. The business’s 50-day moving average is $7.93 and its two-hundred day moving average is $4.96. The company has a quick ratio of 4.80, a current ratio of 5.29 and a debt-to-equity ratio of 0.01.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.24 million. As a group, analysts predict that Draganfly Inc. will post -3.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its position in shares of Draganfly by 224.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after purchasing an additional 2,351 shares during the last quarter. CWM LLC purchased a new position in shares of Draganfly in the 3rd quarter worth about $61,000. SG Americas Securities LLC bought a new position in Draganfly during the third quarter valued at about $89,000. Jane Street Group LLC purchased a new stake in Draganfly during the second quarter worth about $35,000. Finally, XTX Topco Ltd purchased a new stake in Draganfly during the second quarter worth about $65,000. Institutional investors own 10.39% of the company’s stock.

Draganfly Company Profile

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.