Draganfly Inc. (NASDAQ:DPRO) Stock Has Consensus Price Target of $11.62

Shares of Draganfly Inc. (NASDAQ:DPRO) have received a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.62.

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Draganfly from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. LADENBURG THALM/SH SH dropped their target price on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. Finally, Zacks Research cut Draganfly from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th.

Institutional Trading of Draganfly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DPRO. Bank of New York Mellon Corp bought a new position in shares of Draganfly during the 2nd quarter worth approximately $62,000. GK Wealth Management LLC bought a new position in Draganfly during the second quarter valued at $55,000. World Investment Advisors increased its position in Draganfly by 33.3% in the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock worth $270,000 after buying an additional 13,753 shares during the last quarter. Finally, Purpose Unlimited Inc. bought a new position in shares of Draganfly during the 4th quarter worth $43,000. 10.39% of the stock is owned by institutional investors.

Draganfly Trading Down 0.2%

Shares of NASDAQ DPRO opened at $4.19 on Wednesday. Draganfly has a 1-year low of $3.78 and a 1-year high of $13.84. The firm has a market cap of $144.04 million, a P/E ratio of -5.37 and a beta of 2.91. The business’s 50 day moving average is $5.09 and its 200-day moving average is $5.30.

Draganfly (NASDAQ:DPRO) last released its earnings results on Monday, August 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.13). The company had revenue of $1.93 million for the quarter, compared to analyst estimates of $2.56 million. Draganfly had a negative return on equity of 26.61% and a negative net margin of 355.34%. Draganfly’s quarterly revenue was up 26.0% on a year-over-year basis. Analysts forecast that Draganfly will post -0.83 EPS for the current year.

About Draganfly

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. The company designs and manufactures drones for applications that include public safety, emergency response, industrial inspection, agriculture, mapping, surveying, delivery and defense-related operations.

Its product portfolio includes multirotor and fixed-wing aircraft, customized unmanned systems, drone payloads and autonomous flight technologies. Draganfly also provides data collection, aerial imaging, engineering, training and drone-as-a-service solutions designed to help organizations gather information and perform tasks remotely.

Founded in 1999, Draganfly describes itself as one of the oldest commercial drone manufacturers.