Draganfly (NASDAQ:DPRO) Shares Down 16.7% - Should You Sell?

Key Points

• Draganfly Inc. shares fell by 16.7% during trading on Thursday, dropping from a previous close of $11.74 to a low of $9.56.
• Despite the drop, a buy rating was set by HC Wainwright with a price target of $14.00, while the stock maintains a consensus rating of "Buy."
• The company reported earnings of ($0.44) per share, beating analyst expectations, though revenue was below forecasts at $1.55 million compared to the expected $2.24 million.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) traded down 16.7% during trading on Thursday . The company traded as low as $9.56 and last traded at $9.78. 6,468,179 shares traded hands during mid-day trading, an increase of 173% from the average session volume of 2,365,125 shares. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HC Wainwright set a $14.00 price objective on Draganfly and gave the company a "buy" rating in a report on Wednesday, October 8th. Wall Street Zen raised Draganfly from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $14.00.

Draganfly Trading Down 16.7%

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 capitalization of $53.11 million, a price-to-earnings ratio of -5.72 and a beta of 2.58. The business has a 50 day simple moving average of $6.47 and a 200-day simple moving average of $4.20.

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. Draganfly had a negative return on equity of 197.71% and a negative net margin of 181.76%.The firm had revenue of $1.55 million during the quarter, compared to analysts' expectations of $2.24 million. As a group, equities analysts expect that Draganfly Inc. will post -3.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DPRO. Kieckhefer Group LLC boosted its position in shares of Draganfly by 69.1% during the second quarter. Kieckhefer Group LLC now owns 200,657 shares of the company's stock worth $636,000 after buying an additional 82,000 shares during the period. DNB Asset Management AS acquired a new position in shares of Draganfly during the second quarter worth about $340,000. XTX Topco Ltd acquired a new position in shares of Draganfly during the second quarter worth about $65,000. Jane Street Group LLC acquired a new position in shares of Draganfly during the second quarter worth about $35,000. Finally, CWM LLC acquired a new position in shares of Draganfly during the third quarter worth about $61,000. 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.

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