Draganfly (NASDAQ:DPRO) Releases Earnings Results, Beats Expectations By $0.01 EPS

Draganfly (NASDAQ:DPRO) issued its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01, Zacks reports. The firm had revenue of $1.57 million during the quarter, compared to the consensus estimate of $2.34 million. Draganfly had a negative return on equity of 197.71% and a negative net margin of 181.76%.

Draganfly Trading Down 1.9%

Draganfly stock traded down $0.15 during midday trading on Thursday, reaching $7.66. The stock had a trading volume of 1,684,766 shares, compared to its average volume of 2,417,441. The company has a quick ratio of 4.80, a current ratio of 5.29 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $8.21 and a 200 day moving average of $5.13. Draganfly has a 52-week low of $1.63 and a 52-week high of $14.40. The firm has a market cap of $41.57 million, a price-to-earnings ratio of -4.46 and a beta of 2.61.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Draganfly stock. Jane Street Group LLC purchased a new position in Draganfly Inc. (NASDAQ:DPRO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,110 shares of the company’s stock, valued at approximately $35,000. Jane Street Group LLC owned 0.20% of Draganfly as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 10.39% of the company’s stock.

Analysts Set New Price Targets

DPRO has been the subject of a number of research analyst reports. Needham & Company LLC reduced their target price on Draganfly from $20.00 to $14.00 and set a “buy” rating for the company in a report on Thursday. Wall Street Zen downgraded shares of Draganfly from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. HC Wainwright set a $14.00 target price on shares of Draganfly and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH initiated coverage on Draganfly in a research report on Wednesday, November 5th. They issued a “buy” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.67.

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 quadcopters, fixed-wing aircraft, ground-based robots, handheld controllers, and flight training, as well as software used for tracking, live streaming, and data collection.