Draganfly (NASDAQ:DPRO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Draganfly's stock rating has been upgraded from a "sell" to a "hold" by investment analysts at Wall Street Zen.
• HC Wainwright has set a $9.00 price target for Draganfly shares, reaffirming a "buy" rating amidst a general consensus rating of "buy" for the company.
• Draganfly reported a loss of $0.44 EPS in its latest quarterly earnings, which was better than the expected loss of $0.46.

Draganfly (NASDAQ:DPRO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Separately, HC Wainwright set a $9.00 price target on shares of Draganfly and gave the company a "buy" rating in a research report on Wednesday. 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 a consensus price target of $9.00.

Draganfly Trading Up 1.6%

Shares of NASDAQ:DPRO traded up $0.16 during midday trading on Friday, hitting $10.29. 12,199,280 shares of the stock traded hands, compared to its average volume of 6,595,707. The stock has a market capitalization of $55.87 million, a PE ratio of -6.02 and a beta of 2.58. The business's 50 day moving average is $5.38 and its two-hundred day moving average is $3.71. 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 has a one year low of $1.63 and a one year high of $12.12.

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

Institutional Investors Weigh In On Draganfly

A number of hedge funds and other institutional investors have recently bought and sold shares of DPRO. Jane Street Group LLC purchased a new stake in Draganfly in the second quarter worth about $35,000. XTX Topco Ltd purchased a new stake in Draganfly in the second quarter worth about $65,000. DNB Asset Management AS purchased a new stake in Draganfly in the second quarter worth about $340,000. Finally, Kieckhefer Group LLC grew its holdings 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 period. Hedge funds and other institutional investors own 10.39% of the company's stock.

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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