Draganfly Inc. (NASDAQ:DPRO – Get Free Report) traded down 5.9% during mid-day trading on Friday . The company traded as low as $2.21 and last traded at $2.23. 52,424 shares traded hands during trading, a decline of 51% from the average session volume of 106,115 shares. The stock had previously closed at $2.37.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of Draganfly in a report on Wednesday, October 2nd. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright lifted their price objective on shares of Draganfly from $0.50 to $7.00 and gave the stock a “buy” rating in a report on Friday, September 6th.
Read Our Latest Stock Analysis on Draganfly
Draganfly Price Performance
Draganfly (NASDAQ:DPRO – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Draganfly had a negative net margin of 303.16% and a negative return on equity of 1,845.76%. The firm had revenue of $1.27 million for the quarter, compared to analysts’ expectations of $2.07 million. As a group, analysts predict that Draganfly Inc. will post -5.03 earnings per share for the current year.
Hedge Funds Weigh In On Draganfly
Several hedge funds and other institutional investors have recently modified their holdings of DPRO. Armistice Capital LLC purchased a new stake in shares of Draganfly in the second quarter worth $1,515,000. Integrated Advisors Network LLC purchased a new position in Draganfly in the third quarter worth about $52,000. Finally, Ground Swell Capital LLC purchased a new position in Draganfly in the third quarter worth about $28,000. 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 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.
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