Short Interest in Draganfly Inc. (NASDAQ:DPRO) Drops By 14.8%

Draganfly Inc. (NASDAQ:DPROGet Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 184,400 shares, a drop of 14.8% from the April 30th total of 216,400 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 3,340,000 shares, the days-to-cover ratio is presently 0.1 days.

NASDAQ:DPRO opened at $1.11 on Wednesday. Draganfly has a 52 week low of $0.90 and a 52 week high of $8.60. The firm has a market cap of $150.04 million and a price-to-earnings ratio of 1.31. The firm’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.32 and a current ratio of 3.75.

Draganfly (NASDAQ:DPROGet Rating) last released its quarterly earnings results on Monday, April 4th. The company reported ($0.05) EPS for the quarter. Draganfly had a negative return on equity of 76.63% and a net margin of 254.51%. The business had revenue of $1.31 million for the quarter.

A number of hedge funds have recently added to or reduced their stakes in DPRO. Virtu Financial LLC increased its holdings in Draganfly by 82.0% in the 4th quarter. Virtu Financial LLC now owns 21,997 shares of the company’s stock valued at $36,000 after buying an additional 9,914 shares during the period. Commonwealth Equity Services LLC bought a new position in Draganfly in the 1st quarter valued at about $38,000. Formidable Asset Management LLC bought a new position in Draganfly in the 1st quarter valued at about $38,000. Coastal Bridge Advisors LLC bought a new position in Draganfly in the 3rd quarter valued at about $41,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Draganfly in the 3rd quarter valued at approximately $66,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

About Draganfly (Get Rating)

Draganfly Inc manufactures and sells commercial unmanned aerial vehicles worldwide. Its products include quad-copters, fixed wing aircrafts, ground based robots, and hand held controllers, as well as software used for tracking, live streaming, flight training, and data collection. The company also offers custom engineering and training, simulation consulting, and flight training services, as well as wireless video systems.

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