Draganfly (NASDAQ:DPRO) PT Lowered to $0.50 at HC Wainwright

Draganfly (NASDAQ:DPRO) had its target price cut by HC Wainwright from $1.00 to $0.50 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Draganfly’s FY2024 earnings at ($0.17) EPS and FY2025 earnings at ($0.09) EPS.

Draganfly Price Performance

Shares of NASDAQ:DPRO opened at $0.14 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 0.86. The stock has a market cap of $6.68 million, a price-to-earnings ratio of -0.44 and a beta of 2.31. The company has a 50 day moving average of $0.20 and a 200-day moving average of $0.24. Draganfly has a one year low of $0.10 and a one year high of $1.04.

Draganfly (NASDAQ:DPRO) last released its earnings results on Tuesday, May 14th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Draganfly had a negative net margin of 292.78% and a negative return on equity of 497.78%. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.29 million. During the same quarter in the previous year, the business earned ($0.15) EPS. On average, sell-side analysts forecast that Draganfly will post -0.15 earnings per share for the current year.

Institutional Trading of Draganfly

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

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 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.