Maxim Group Begins Coverage on Draganfly (NASDAQ:DPRO)

Equities research analysts at Maxim Group initiated coverage on shares of Draganfly (NASDAQ:DPRO) in a report released on Wednesday, Benzinga reports. The firm set a “buy” rating and a $7.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 169.23% from the company’s previous close.

Separately, HC Wainwright raised their target price on shares of Draganfly from $0.50 to $7.00 and gave the stock a “buy” rating in a report on Friday, September 6th.

Draganfly Stock Performance

DPRO traded down $0.02 on Wednesday, hitting $2.60. 15,792 shares of the company’s stock were exchanged, compared to its average volume of 107,807. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $0.81 and a two-hundred day moving average of $0.29. Draganfly has a twelve month low of $1.55 and a twelve month high of $19.86. The firm has a market cap of $128.16 million, a PE ratio of -8.23 and a beta of 2.24.

Draganfly (NASDAQ:DPRO) last issued its earnings results on Tuesday, August 13th. The company reported $0.00 earnings per share for the quarter. Draganfly had a negative return on equity of 1,845.76% and a negative net margin of 303.16%. The firm had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.07 million. On average, research analysts anticipate that Draganfly will post -5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Draganfly

An institutional investor recently bought a new position in Draganfly stock. Armistice Capital LLC bought a new position in Draganfly Inc. (NASDAQ:DPRO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,473,000 shares of the company’s stock, valued at approximately $1,515,000. Armistice Capital LLC owned 13.13% of Draganfly at the end of the most recent reporting period. 10.39% of the stock is currently 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 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.