Draganfly Inc. (NASDAQ:DPRO) Sees Significant Decrease in Short Interest

Draganfly Inc. (NASDAQ:DPRO) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 161,200 shares, a decline of 34.0% from the November 30th total of 244,200 shares. Based on an average daily trading volume, of 308,600 shares, the short-interest ratio is presently 0.5 days. Currently, 3.0% of the shares of the company are short sold.

Draganfly Stock Performance

NASDAQ DPRO opened at $4.74 on Monday. Draganfly has a 12-month low of $1.55 and a 12-month high of $12.50. The firm has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $3.62. The company has a market capitalization of $9.35 million, a P/E ratio of -1.17 and a beta of 2.58. The company has a quick ratio of 1.54, a current ratio of 1.94 and a debt-to-equity ratio of 0.07.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DPRO shares. Maxim Group initiated coverage on shares of Draganfly in a report on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price target on the stock. HC Wainwright lifted their target price on Draganfly from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 23rd.

Institutional Investors Weigh In On Draganfly

Several institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC acquired a new position in Draganfly in the 3rd quarter valued at $28,000. Integrated Advisors Network LLC acquired a new stake in shares of Draganfly during the 3rd quarter worth $52,000. Finally, Armistice Capital LLC bought a new position in shares of Draganfly in the second quarter worth $1,515,000. 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.