Draganfly (NASDAQ:DPRO) Stock Price Down 4.1% - Here's What Happened

Key Points

• Draganfly Inc. (NASDAQ:DPRO) shares decreased by 4.1% to $13.21 after trading as low as $12.35, with a trading volume 109% higher than the average.
• Analysts have set a new price target of $14.00 for Draganfly, maintaining a consensus rating of "Buy" for the stock.
• The company reported a revenue of $1.55 million for the quarter, falling short of analyst expectations of $2.24 million, alongside negative earnings per share of ($0.44).

Shares of Draganfly Inc. (NASDAQ:DPRO - Get Free Report) fell 4.1% on Tuesday . The stock traded as low as $12.35 and last traded at $13.21. 4,866,925 shares changed hands during trading, an increase of 109% from the average session volume of 2,324,526 shares. The stock had previously closed at $13.77.

Analysts Set New Price Targets

DPRO has been the subject of a number of research reports. HC Wainwright set a $14.00 target price 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 report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Draganfly presently has a consensus rating of "Buy" and an average target price of $14.00.

Draganfly Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. The stock has a market cap of $71.73 million, a PE ratio of -7.73 and a beta of 2.58. The stock's 50-day moving average is $6.18 and its two-hundred day moving average is $4.08.

Draganfly (NASDAQ:DPRO - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.44) 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 company had revenue of $1.55 million during the quarter, compared to analysts' expectations of $2.24 million. On average, equities analysts predict 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 bought and sold shares of DPRO. Kieckhefer Group LLC lifted its position in shares of 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 buying an additional 82,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in Draganfly in the second quarter valued at $65,000. Jane Street Group LLC purchased a new stake in Draganfly in the second quarter valued at $35,000. Finally, DNB Asset Management AS purchased a new stake in Draganfly in the second quarter valued at $340,000. 10.39% of the stock is owned by hedge funds and other institutional investors.

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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