Wall Street Zen Downgrades Draganfly (NASDAQ:DPRO) to Sell

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

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Draganfly in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.50.

Draganfly Stock Performance

Shares of DPRO opened at $5.33 on Friday. Draganfly has a one year low of $1.63 and a one year high of $7.30. The company has a 50-day moving average of $4.78 and a two-hundred day moving average of $3.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 4.80. The stock has a market cap of $28.94 million, a price-to-earnings ratio of -3.12 and a beta of 2.44.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. The firm had revenue of $1.55 million for the quarter, compared to analyst estimates of $2.24 million. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. On average, equities research analysts expect that Draganfly will post -3.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DPRO. Jane Street Group LLC acquired a new position in Draganfly during the second quarter worth approximately $35,000. XTX Topco Ltd acquired a new stake in Draganfly during the second quarter worth approximately $65,000. Integrated Advisors Network LLC grew its position in shares of Draganfly by 46.3% in the fourth 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. DNB Asset Management AS bought a new position in shares of Draganfly during the second quarter worth approximately $340,000. Finally, Kieckhefer Group LLC lifted its holdings in Draganfly by 69.1% during the 2nd quarter. Kieckhefer Group LLC now owns 200,657 shares of the company’s stock worth $636,000 after purchasing an additional 82,000 shares during the last quarter. Institutional investors own 10.39% of the company’s stock.

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.