Draganfly Inc. (NASDAQ:DPRO) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts give Draganfly a consensus “Moderate Buy” rating: Of five analysts, three recommend buying, one strongly recommends buying, and one rates the stock a sell. The average 12-month price target is $11.62.
• The stock opened at $3.51 and has declined 4.9%: Draganfly’s shares trade near their 52-week low of $3.31, with a market capitalization of approximately $120.7 million.
• Recent financial results fell short of expectations: The company reported a quarterly loss of $0.24 per share versus the $0.11 expected and revenue of $1.93 million versus the $2.56 million consensus, despite 26% year-over-year revenue growth.

Shares of Draganfly Inc. (NASDAQ:DPRO - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.62.

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

Draganfly Stock Down 4.9%

Shares of DPRO stock opened at $3.51 on Friday. The stock has a market cap of $120.66 million, a price-to-earnings ratio of -4.50 and a beta of 2.91. Draganfly has a fifty-two week low of $3.31 and a fifty-two week high of $11.28. The firm's 50 day moving average price is $4.83 and its two-hundred day moving average price is $5.72.

Draganfly (NASDAQ:DPRO - Get Free Report) last released its quarterly earnings data 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). Draganfly had a negative return on equity of 26.61% and a negative net margin of 355.34%. The business had revenue of $1.93 million for the quarter, compared to analysts' expectations of $2.56 million. The company's quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts forecast that Draganfly will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Draganfly

Several hedge funds have recently modified their holdings of the stock. World Investment Advisors raised its stake in shares of Draganfly by 33.3% during the first quarter. World Investment Advisors now owns 55,067 shares of the company's stock valued at $270,000 after purchasing an additional 13,753 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Draganfly during the second quarter worth $62,000. Finally, GK Wealth Management LLC acquired a new position in shares of Draganfly during the second quarter worth $55,000. 10.39% of the stock is currently owned by hedge funds and other institutional investors.

Draganfly Company Profile

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. Its solutions are designed for public safety, defense and security, agriculture, industrial inspection, mapping, surveying, environmental monitoring and delivery applications.

The company's offerings include remotely piloted aircraft, autonomous drone systems, payloads, flight-control technology, data-collection tools and professional services. Draganfly also provides drone design, manufacturing, training, consulting and operational support, helping organizations collect aerial imagery and other data for analysis and decision-making.

Founded in 1998, Draganfly describes itself as one of the early commercial drone manufacturers.

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