Draganfly (NASDAQ:DPRO) Downgraded to “Sell” Rating by Wall Street Zen

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

Several other research firms have also commented on DPRO. LADENBURG THALM/SH SH started coverage on Draganfly in a research report on Wednesday, November 5th. They issued a “buy” rating and a $19.00 price target for the company. Needham & Company LLC lowered their price objective on Draganfly from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, HC Wainwright set a $14.00 target price on Draganfly and gave the company a “buy” rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.67.

Draganfly Stock Performance

Shares of DPRO opened at $7.67 on Friday. The stock has a market capitalization of $41.65 million, a PE ratio of -4.15 and a beta of 2.64. The company’s fifty day moving average is $8.82 and its 200 day moving average is $5.71. Draganfly has a fifty-two week low of $1.63 and a fifty-two week high of $14.40.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. Draganfly had a negative net margin of 243.20% and a negative return on equity of 71.81%. The business had revenue of $1.57 million during the quarter, compared to analyst estimates of $2.34 million. As a group, research analysts forecast that Draganfly will post -3.56 earnings per share for the current year.

Institutional Investors Weigh In On Draganfly

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in Draganfly by 224.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after acquiring an additional 2,351 shares during the period. IFP Advisors Inc purchased a new stake in shares of Draganfly during the third quarter valued at $39,000. CWM LLC purchased a new stake in shares of Draganfly during the third quarter valued at $61,000. Wexford Capital LP bought a new position in shares of Draganfly in the third quarter worth about $67,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Draganfly in the 3rd quarter worth about $77,000. 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.