Draganfly (NASDAQ:DPRO) Stock Lifted to Hold by Zacks Research

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

Several other research analysts also recently commented on the company. Wall Street Zen downgraded Draganfly from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Needham & Company LLC restated a “buy” rating on shares of Draganfly in a research report on Tuesday, September 29th. Finally, LADENBURG THALM/SH SH reduced their price target on Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.62.

Draganfly Stock Performance

Shares of DPRO opened at $3.06 on Tuesday. Draganfly has a fifty-two week low of $3.04 and a fifty-two week high of $10.62. The firm has a market cap of $105.02 million, a price-to-earnings ratio of -3.92 and a beta of 3.02. The firm has a 50 day moving average price of $4.76 and a 200-day moving average price of $5.62.

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

Hedge Funds Weigh In On Draganfly

A number of hedge funds have recently modified their holdings of DPRO. World Investment Advisors grew its stake in shares of Draganfly by 33.3% in the first quarter. World Investment Advisors now owns 55,067 shares of the company’s stock worth $270,000 after purchasing an additional 13,753 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Draganfly during the 2nd quarter valued at about $62,000. Finally, GK Wealth Management LLC purchased a new position in Draganfly during the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 10.39% of the company’s stock.

About Draganfly

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.