Draganfly (NASDAQ:DPRO) Raised to Hold at Zacks Research

Draganfly (NASDAQ:DPRO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. LADENBURG THALM/SH SH reduced their price target on shares of Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Draganfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $11.62.

Draganfly Stock Down 7.7%

Shares of DPRO stock opened at $3.06 on Tuesday. The firm has a market capitalization of $105.02 million, a price-to-earnings ratio of -3.92 and a beta of 3.02. The stock has a fifty day moving average of $4.76 and a 200 day moving average of $5.62. Draganfly has a 52 week low of $3.04 and a 52 week high of $10.62.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). Draganfly had a negative net margin of 355.34% and a negative return on equity of 26.61%. The company had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.56 million. Draganfly’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts anticipate that Draganfly will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Draganfly

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Draganfly in the second quarter worth $62,000. GK Wealth Management LLC bought a new position in Draganfly in the second quarter worth $55,000. Finally, World Investment Advisors lifted its position in Draganfly by 33.3% during the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock valued at $270,000 after buying an additional 13,753 shares during the period. 10.39% of the stock is currently owned by institutional investors.

Draganfly Company Profile

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. Its solutions are designed for public safety, defense and security, agriculture, industrial inspection, mapping, surveying, environmental monitoring and delivery applications.

The company’s offerings include remotely piloted aircraft, autonomous drone systems, payloads, flight-control technology, data-collection tools and professional services. Draganfly also provides drone design, manufacturing, training, consulting and operational support, helping organizations collect aerial imagery and other data for analysis and decision-making.

Founded in 1998, Draganfly describes itself as one of the early commercial drone manufacturers.