Draganfly (NASDAQ:DPRO) Stock Price Down 3.7% - Should You Sell?

Key Points

• Draganfly Inc. (NASDAQ:DPRO) saw a stock price decline of 3.7%, trading as low as $8.91 and closing at $9.42 with a trading volume up by 61% compared to its average.
• Analysts have provided a consensus "Buy" rating for Draganfly, with HC Wainwright setting a target price of $14.00 per share.
• The company reported a quarterly loss of ($0.44) EPS but performed slightly better than analysts' expectations of ($0.46), while revenue fell short at $1.55 million against an estimate of $2.24 million.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) was down 3.7% during mid-day trading on Friday . The stock traded as low as $8.91 and last traded at $9.42. Approximately 3,817,999 shares changed hands during trading, an increase of 61% from the average daily volume of 2,373,044 shares. The stock had previously closed at $9.78.

Analyst Ratings Changes

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

Draganfly Trading Down 3.7%

The firm has a market capitalization of $51.15 million, a P/E ratio of -5.51 and a beta of 2.58. The stock's 50-day simple moving average is $6.57 and its two-hundred day simple moving average is $4.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.29 and a quick ratio of 4.80.

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

Hedge Funds Weigh In On Draganfly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Draganfly during the second quarter worth $35,000. CWM LLC bought a new position in shares of Draganfly during the third quarter worth $61,000. XTX Topco Ltd bought a new position in shares of Draganfly during the second quarter worth $65,000. DNB Asset Management AS bought a new position in shares of Draganfly during the second quarter worth $340,000. Finally, 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 acquiring an additional 82,000 shares during the last quarter. 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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