Draganfly (NASDAQ:DPRO) Price Target Raised to $6.00

Draganfly (NASDAQ:DPRO) had its price target upped by HC Wainwright from $3.50 to $6.00 in a research note issued to investors on Thursday, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

Separately, Wall Street Zen cut shares of Draganfly from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Draganfly Stock Performance

NASDAQ DPRO opened at $5.45 on Thursday. Draganfly has a 52-week low of $1.55 and a 52-week high of $7.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.75 and a current ratio of 1.14. The firm has a 50-day moving average of $2.76 and a 200-day moving average of $2.81. The stock has a market cap of $29.59 million, a PE ratio of -1.80 and a beta of 2.37.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.04. Draganfly had a negative net margin of 227.19% and a negative return on equity of 831.19%. The business had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $2.06 million. On average, sell-side analysts anticipate that Draganfly will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Draganfly

Several hedge funds have recently bought and sold shares of the company. Kieckhefer Group LLC grew its holdings in shares of Draganfly by 69.1% during the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock valued at $636,000 after purchasing an additional 82,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Draganfly during the 4th quarter valued at approximately $51,000. Finally, Integrated Advisors Network LLC grew its holdings in shares of Draganfly by 46.3% during the 4th quarter. Integrated Advisors Network LLC now owns 30,000 shares of the company’s stock valued at $120,000 after purchasing an additional 9,500 shares during the last quarter. 10.39% of the stock is owned by 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.