HC Wainwright Issues Pessimistic Forecast for Draganfly (NASDAQ:DPRO) Stock Price

Draganfly (NASDAQ:DPRO) had its price target cut by investment analysts at HC Wainwright from $7.00 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 87.97% from the stock’s current price.

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

Draganfly Trading Up 2.3 %

Shares of DPRO opened at $2.66 on Friday. The stock’s 50-day moving average price is $2.63 and its 200 day moving average price is $4.26. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.24 million, a price-to-earnings ratio of -0.41 and a beta of 2.24. Draganfly has a 12-month low of $1.55 and a 12-month high of $15.00.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Draganfly had a negative return on equity of 1,845.76% and a negative net margin of 303.16%. The company had revenue of $1.27 million during the quarter, compared to analysts’ expectations of $2.07 million. As a group, research analysts predict that Draganfly will post -5.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DPRO. Ground Swell Capital LLC acquired a new position in Draganfly in the third quarter valued at about $28,000. Integrated Advisors Network LLC acquired a new stake in Draganfly in the third quarter worth $52,000. Finally, Armistice Capital LLC bought a new position in shares of Draganfly during the second quarter worth $1,515,000. 10.39% of the stock is currently owned by 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.