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

Draganfly (NASDAQ:DPRO) had its price target lifted by HC Wainwright from $0.50 to $7.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Draganfly Stock Down 11.4 %

Shares of Draganfly stock opened at $2.02 on Friday. The company has a 50-day simple moving average of $3.98 and a two-hundred day simple moving average of $5.08. Draganfly has a 52-week low of $1.90 and a 52-week high of $23.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a market capitalization of $3.98 million, a PE ratio of -6.52 and a beta of 2.25.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.27 million for the quarter, compared to analysts’ expectations of $2.07 million. On average, analysts anticipate that Draganfly will post -5 EPS for the current fiscal year.

Hedge Funds Weigh In On Draganfly

An institutional investor recently bought a new position in Draganfly stock. Armistice Capital LLC bought a new stake in shares of Draganfly Inc. (NASDAQ:DPRO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,150,000 shares of the company’s stock, valued at approximately $1,990,000. Armistice Capital LLC owned about 8.43% of Draganfly at the end of the most recent quarter. 10.39% of the stock is owned by hedge funds and other 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.