Draganfly (NASDAQ:DPRO) Rating Lowered to “Sell” at Wall Street Zen

Draganfly (NASDAQ:DPRO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts also recently issued reports on the company. HC Wainwright set a $14.00 price objective on Draganfly and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Needham & Company LLC began coverage on Draganfly in a research report on Thursday. They set a “buy” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Draganfly currently has a consensus rating of “Buy” and a consensus target price of $17.00.

Draganfly Stock Performance

NASDAQ:DPRO opened at $10.95 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 4.80. Draganfly has a 1 year low of $1.63 and a 1 year high of $14.40. The stock’s 50 day simple moving average is $7.60 and its two-hundred day simple moving average is $4.82. The company has a market cap of $59.46 million, a price-to-earnings ratio of -6.40 and a beta of 2.61.

Draganfly (NASDAQ:DPRO) last released 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 return on equity of 197.71% and a negative net margin of 181.76%.The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $2.24 million. As a group, equities analysts anticipate that Draganfly will post -3.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Draganfly

A number of institutional investors have recently modified their holdings of DPRO. CWM LLC bought a new stake in shares of Draganfly during the third quarter valued at approximately $61,000. SG Americas Securities LLC bought a new stake in shares of Draganfly during the third quarter valued at approximately $89,000. Jane Street Group LLC bought a new stake in shares of Draganfly during the second quarter valued at approximately $35,000. XTX Topco Ltd bought a new stake in shares of Draganfly during the second quarter valued at approximately $65,000. Finally, Kieckhefer Group LLC lifted its holdings in shares of Draganfly by 69.1% in the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock worth $636,000 after buying an additional 82,000 shares during the period. 10.39% of the stock is 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 quadcopters, fixed-wing aircraft, ground-based robots, handheld controllers, and flight training, as well as software used for tracking, live streaming, and data collection.