HC Wainwright Cuts Draganfly (NASDAQ:DPRO) Price Target to $5.00

Draganfly (NASDAQ:DPRO) had its price objective lowered by HC Wainwright from $7.00 to $5.00 in a report issued on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Maxim Group began coverage on Draganfly in a report on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 target price on the stock.

Draganfly Price Performance

DPRO traded down $0.31 on Friday, hitting $2.35. 111,264 shares of the company were exchanged, compared to its average volume of 103,972. Draganfly has a fifty-two week low of $1.55 and a fifty-two week high of $15.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market capitalization of $4.63 million, a P/E ratio of -0.58 and a beta of 2.24. The business’s fifty day moving average is $2.64 and its 200 day moving average is $4.23.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.27 million for the quarter, compared to analysts’ expectations of $2.07 million. Draganfly had a negative return on equity of 1,845.76% and a negative net margin of 303.16%. As a group, sell-side analysts anticipate that Draganfly will post -5.03 EPS for the current year.

Institutional Trading of Draganfly

Several large investors have recently modified their holdings of the business. Armistice Capital LLC purchased a new stake in Draganfly in the 2nd quarter valued at approximately $1,515,000. Integrated Advisors Network LLC acquired a new position in shares of Draganfly in the third quarter worth $52,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Draganfly in the third quarter valued at $28,000. 10.39% of the stock is currently owned by institutional investors and hedge funds.

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 quad-?copters, ???fixed wing ?aircrafts, ground based robots, handheld controllers, and flight training, as well as software ?used for tracking, live ???streaming, ?and data collection.