Draganfly (NASDAQ:DPRO) Price Target Lowered to $14.00 at Needham & Company LLC

Draganfly (NASDAQ:DPRO) had its price target lowered by stock analysts at Needham & Company LLC from $20.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 77.19% from the stock’s previous close.

Several other equities analysts also recently commented on the company. LADENBURG THALM/SH SH began coverage on Draganfly in a research report on Wednesday, November 5th. They set a “buy” rating and a $19.00 target price for the company. HC Wainwright set a $14.00 target price on shares of Draganfly and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Draganfly from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.67.

Draganfly Stock Performance

Shares of NASDAQ:DPRO traded up $0.10 on Thursday, hitting $7.90. 976,851 shares of the company were exchanged, compared to its average volume of 2,412,655. Draganfly has a one year low of $1.63 and a one year high of $14.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.80 and a current ratio of 5.29. The company’s 50 day moving average price is $8.21 and its two-hundred day moving average price is $5.13. The firm has a market capitalization of $42.90 million, a price-to-earnings ratio of -4.47 and a beta of 2.61.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Draganfly had a negative net margin of 181.76% and a negative return on equity of 197.71%. The company had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.34 million. Research analysts expect that Draganfly will post -3.56 earnings per share for the current year.

Institutional Trading of Draganfly

Several institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS lifted its position in Draganfly by 151.5% during the third quarter. DNB Asset Management AS now owns 269,591 shares of the company’s stock worth $2,194,000 after purchasing an additional 162,408 shares during the period. Kieckhefer Group LLC lifted its stake in shares of Draganfly by 57.3% in the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock worth $2,569,000 after acquiring an additional 115,000 shares during the period. XTX Topco Ltd bought a new stake in Draganfly in the second quarter valued at approximately $65,000. Verus Capital Partners LLC bought a new position in Draganfly during the 3rd quarter worth approximately $111,000. Finally, Jane Street Group LLC acquired a new position in shares of Draganfly in the 2nd quarter worth approximately $35,000. 10.39% of the stock is currently owned by 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.