Draganfly (NASDAQ:DPRO) Shares Up 5.2% - Here's Why

Key Points

• Draganfly Inc. (NASDAQ:DPRO) shares rose by 5.2% on Wednesday, trading as high as $11.70, with a trading volume increase of 168% from the average.
• Equities analysts have recently upgraded Draganfly's rating from "sell" to "hold," with a price target of $14.00 indicating a positive outlook for the stock.
• The company reported a net margin of -181.76% and a negative return on equity of -197.71% in its latest quarterly earnings, highlighting ongoing financial challenges.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) shot up 5.2% during mid-day trading on Wednesday . The company traded as high as $11.70 and last traded at $11.19. 5,931,860 shares traded hands during trading, an increase of 168% from the average session volume of 2,213,907 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

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

Draganfly Stock Performance

The company has a 50-day moving average price of $5.59 and a two-hundred day moving average price of $3.81. The stock has a market capitalization of $60.76 million, a P/E ratio of -6.54 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 quarterly earnings data on Monday, August 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate 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 net margin of 181.76% and a negative return on equity of 197.71%. Equities analysts expect that Draganfly Inc. will post -3.56 earnings per share for the current year.

Institutional Trading of Draganfly

A number of institutional investors have recently made changes to their positions in DPRO. Jane Street Group LLC purchased a new stake in Draganfly in the second quarter worth $35,000. XTX Topco Ltd purchased a new stake in shares of Draganfly during the second quarter valued at $65,000. DNB Asset Management AS purchased a new position in Draganfly in the second quarter worth about $340,000. Finally, Kieckhefer Group LLC boosted its position in Draganfly by 69.1% in the second quarter. Kieckhefer Group LLC now owns 200,657 shares of the company's stock worth $636,000 after purchasing an additional 82,000 shares during the last quarter. Hedge funds and other institutional investors own 10.39% of the company's stock.

Draganfly Company Profile

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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