Draganfly (NASDAQ:DPRO) Price Target Raised to $7.00

Draganfly (NASDAQ:DPRO) had its target price upped by HC Wainwright from $5.00 to $7.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Draganfly’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.92) EPS and FY2025 earnings at ($0.50) EPS.

Separately, Maxim Group started coverage on Draganfly in a research report on Wednesday, October 2nd. They set a “buy” rating and a $7.00 target price on the stock.

Draganfly Stock Performance

Shares of NASDAQ:DPRO opened at $4.48 on Monday. The firm has a market cap of $8.83 million, a PE ratio of -1.11 and a beta of 2.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 1.94. Draganfly has a one year low of $1.55 and a one year high of $12.50. The firm’s 50 day simple moving average is $3.20 and its 200-day simple moving average is $3.65.

Hedge Funds Weigh In On Draganfly

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ground Swell Capital LLC purchased a new position in shares of Draganfly in the third quarter worth about $28,000. Integrated Advisors Network LLC acquired a new position in shares of Draganfly in the third quarter worth about $52,000. Finally, Armistice Capital LLC purchased a new position in Draganfly during the second quarter worth approximately $1,515,000. 10.39% of the stock is owned by hedge funds and other 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 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.