Draganfly (NASDAQ:DPRO) Stock Price Up 13.7% - Should You Buy?

Key Points

• Draganfly Inc. stock price surged by 13.7%, reaching a last traded price of $10.64, significantly up from its previous close of $9.36.
• HC Wainwright has set a $9.00 target price on Draganfly shares and issued a "buy" rating, while the stock currently holds an average rating of "buy" with a consensus target price of $9.00.
• Institutional investors have shown increasing interest in Draganfly, with several firms acquiring new stakes, collectively owning 10.39% of the stock.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report) traded up 13.7% on Tuesday . The stock traded as high as $10.69 and last traded at $10.64. 6,924,643 shares traded hands during mid-day trading, an increase of 216% from the average session volume of 2,194,673 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HC Wainwright set a $9.00 target price on shares of Draganfly and gave the company a "buy" rating in a research report on Wednesday, October 1st. Wall Street Zen raised Draganfly from a "sell" rating to a "hold" rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $9.00.

Draganfly Price Performance

The company has a quick ratio of 4.80, a current ratio of 5.29 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $5.46 and its 200-day moving average price is $3.76. The stock has a market capitalization of $57.78 million, a PE ratio of -6.22 and a beta of 2.58.

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

Institutional Investors Weigh In On Draganfly

Several hedge funds and other institutional investors have recently bought and sold shares of DPRO. Jane Street Group LLC purchased a new stake in shares of Draganfly in the second quarter valued at about $35,000. XTX Topco Ltd acquired a new stake in Draganfly in the 2nd quarter worth about $65,000. DNB Asset Management AS acquired a new stake in shares of Draganfly during the 2nd quarter worth $340,000. Finally, Kieckhefer Group LLC increased 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 purchasing an additional 82,000 shares in the last quarter. 10.39% of the stock is currently 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.