Draganfly (NASDAQ:DPRO) Shares Down 11.1% - Should You Sell?

Key Points

• Draganfly Inc. shares dropped by 11.1%, trading as low as $11.01, with a notable increase in trading volume of 156% compared to average levels.
• Wall Street analysts maintain a consensus rating of "Buy" for Draganfly, with a price target set at $14.00, despite recent declines in share price.
• The company reported a quarterly EPS of ($0.44), surpassing analysts' expectations, but fell short on revenue with $1.55 million compared to the anticipated $2.24 million.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report)'s share price traded down 11.1% during mid-day trading on Wednesday . The stock traded as low as $11.01 and last traded at $11.74. 6,000,159 shares changed hands during trading, an increase of 156% from the average session volume of 2,343,001 shares. The stock had previously closed at $13.21.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright set a $14.00 price target on shares of Draganfly and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Draganfly from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Draganfly presently has an average rating of "Buy" and a consensus price target of $14.00.

Draganfly Price Performance

The company has a 50 day moving average of $6.34 and a 200-day moving average of $4.14. The stock has a market capitalization of $63.72 million, a P/E ratio of -6.87 and a beta of 2.58. The company has a quick ratio of 4.80, a current ratio of 5.29 and a debt-to-equity ratio of 0.01.

Draganfly (NASDAQ:DPRO - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.46) by $0.02. The company had revenue of $1.55 million for the quarter, compared to analysts' expectations of $2.24 million. Draganfly had a negative return on equity of 197.71% and a negative net margin of 181.76%. Sell-side analysts predict that Draganfly Inc. will post -3.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in Draganfly during the second quarter worth about $35,000. XTX Topco Ltd acquired a new position in shares of Draganfly in the 2nd quarter valued at $65,000. DNB Asset Management AS acquired a new stake in Draganfly during the 2nd quarter worth about $340,000. Finally, Kieckhefer Group LLC boosted its position 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 acquiring an additional 82,000 shares during the period. 10.39% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.