Draganfly (NASDAQ:DPRO) Price Target Cut to $14.00 by Analysts at Needham & Company LLC

Draganfly (NASDAQ:DPRO) had its target price reduced by equities researchers at Needham & Company LLC from $20.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 77.19% from the stock’s current price.

DPRO has been the subject of a number of other reports. HC Wainwright set a $14.00 price objective on shares of Draganfly and gave the stock a “buy” rating in a report on Wednesday, October 8th. LADENBURG THALM/SH SH assumed coverage on shares of Draganfly in a research note on Wednesday, November 5th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Wall Street Zen lowered shares of Draganfly from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Draganfly currently has an average rating of “Buy” and an average target price of $15.67.

Draganfly Stock Up 1.3%

DPRO traded up $0.10 during mid-day trading on Thursday, reaching $7.90. 976,851 shares of the stock were exchanged, compared to its average volume of 2,412,655. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. The stock has a market capitalization of $42.90 million, a PE ratio of -4.47 and a beta of 2.61. Draganfly has a 1 year low of $1.63 and a 1 year high of $14.40. The company has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $5.13.

Draganfly (NASDAQ:DPRO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. Draganfly had a negative return on equity of 197.71% and a negative net margin of 181.76%.The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.34 million. As a group, research analysts anticipate that Draganfly will post -3.56 EPS for the current year.

Institutional Investors Weigh In On Draganfly

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DNB Asset Management AS lifted its holdings in shares of Draganfly by 151.5% in the third quarter. DNB Asset Management AS now owns 269,591 shares of the company’s stock valued at $2,194,000 after purchasing an additional 162,408 shares in the last quarter. Verus Capital Partners LLC bought a new position in shares of Draganfly during the third quarter worth $111,000. Jones Financial Companies Lllp boosted its holdings in shares of Draganfly by 224.3% in the third quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after buying an additional 2,351 shares during the period. SG Americas Securities LLC acquired a new position in Draganfly in the 3rd quarter valued at about $89,000. Finally, Kieckhefer Group LLC lifted its stake in shares of Draganfly by 57.3% in the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock worth $2,569,000 after acquiring an additional 115,000 shares during the period. 10.39% of the stock is currently owned by institutional investors.

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.