Draganfly (NASDAQ:DPRO) Trading Up 14.7% - Should You Buy?

Key Points

• Draganfly Inc. saw a significant share price increase of 14.7%, with the stock trading as high as $14.16 before ending the day at $13.77.
• Research analysts gave the stock an average rating of "Buy", with a consensus target price of $14.00.
• Despite beating earnings estimates, Draganfly reported a negative net margin of 181.76% with a revenue of $1.55 million for the quarter, falling short of analyst expectations.

Draganfly Inc. (NASDAQ:DPRO - Get Free Report)'s stock price was up 14.7% during trading on Monday . The stock traded as high as $14.16 and last traded at $13.77. Approximately 5,266,881 shares traded hands during mid-day trading, an increase of 128% from the average daily volume of 2,311,182 shares. The stock had previously closed at $12.01.

Analyst Ratings Changes

A number of research firms have weighed in on DPRO. HC Wainwright set a $14.00 price target on Draganfly and gave the company 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 note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $14.00.

Draganfly Price Performance

The company's 50 day moving average is $6.01 and its 200 day moving average is $4.00. The company has a current ratio of 5.29, a quick ratio of 4.80 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $74.77 million, a price-to-earnings ratio of -8.05 and a beta of 2.58.

Draganfly (NASDAQ:DPRO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.44) EPS for the quarter, topping 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 analyst estimates of $2.24 million. Research analysts anticipate that Draganfly Inc. will post -3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kieckhefer Group LLC grew 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 during the last quarter. DNB Asset Management AS purchased a new position in Draganfly during the 2nd quarter worth $340,000. XTX Topco Ltd purchased a new position in Draganfly during the 2nd quarter worth $65,000. Finally, Jane Street Group LLC purchased a new position in Draganfly during the 2nd quarter worth $35,000. 10.39% of the stock is owned by hedge funds and other institutional investors.

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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