Draganfly Inc. (NASDAQ:DPRO) Stock Has Consensus Price Target of $11.62 According to Analysts

Draganfly Inc. (NASDAQ:DPRO) has received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $11.62.

Several research firms have issued reports on DPRO. LADENBURG THALM/SH SH dropped their price target on Draganfly from $12.75 to $11.50 and set a “buy” rating on the stock in a report on Thursday, August 13th. Zacks Research lowered shares of Draganfly from a “hold” rating to a “strong sell” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating on shares of Draganfly in a research note on Tuesday, September 29th. Finally, Wall Street Zen cut shares of Draganfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

Institutional Trading of Draganfly

Several large investors have recently modified their holdings of the company. World Investment Advisors bought a new position in shares of Draganfly during the 4th quarter valued at approximately $285,000. Bank of New York Mellon Corp acquired a new stake in shares of Draganfly in the second quarter valued at about $62,000. GK Wealth Management LLC acquired a new stake in shares of Draganfly during the second quarter valued at $55,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of Draganfly in the 4th quarter valued at $43,000. Institutional investors own 10.39% of the company’s stock.

Draganfly Stock Performance

Shares of DPRO opened at $5.00 on Wednesday. The stock has a market capitalization of $171.88 million, a PE ratio of -6.41 and a beta of 2.91. Draganfly has a 1 year low of $3.78 and a 1 year high of $14.40. The stock has a 50-day simple moving average of $5.07 and a 200-day simple moving average of $5.36.

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

Draganfly Company Profile

Draganfly Inc is a Canadian drone technology company that develops and provides unmanned aerial systems, software and related services. The company designs and manufactures drones for applications that include public safety, emergency response, industrial inspection, agriculture, mapping, surveying, delivery and defense-related operations.

Its product portfolio includes multirotor and fixed-wing aircraft, customized unmanned systems, drone payloads and autonomous flight technologies. Draganfly also provides data collection, aerial imaging, engineering, training and drone-as-a-service solutions designed to help organizations gather information and perform tasks remotely.

Founded in 1999, Draganfly describes itself as one of the oldest commercial drone manufacturers.