Draganfly (NASDAQ:DPRO) Earns Buy Rating from HC Wainwright

Draganfly (NASDAQ:DPRO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $2.50 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 358.55% from the company’s current price.

Separately, Aegis reaffirmed a “buy” rating on shares of Draganfly in a research note on Tuesday, September 12th.

Draganfly Stock Down 2.7 %

NASDAQ DPRO opened at $0.55 on Friday. The business’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.91. The company has a quick ratio of 1.18, a current ratio of 1.58 and a debt-to-equity ratio of 0.13. The firm has a market cap of $26.52 million, a PE ratio of -0.75 and a beta of 3.53. Draganfly has a 52 week low of $0.54 and a 52 week high of $2.47.

Institutional Investors Weigh In On Draganfly

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaCentric Advisors LLC grew its holdings in shares of Draganfly by 66.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 500,000 shares of the company’s stock worth $640,000 after purchasing an additional 200,000 shares during the period. Alliance Wealth Advisors LLC purchased a new position in shares of Draganfly during the 2nd quarter worth approximately $132,000. Citadel Advisors LLC raised its position in Draganfly by 2,128.6% in the third quarter. Citadel Advisors LLC now owns 73,545 shares of the company’s stock valued at $51,000 after purchasing an additional 70,245 shares during the period. Scotia Capital Inc. acquired a new position in Draganfly during the second quarter worth $66,000. Finally, Jane Street Group LLC grew its stake in shares of Draganfly by 111.3% in the fourth quarter. Jane Street Group LLC now owns 39,388 shares of the company’s stock valued at $30,000 after buying an additional 20,745 shares in the last quarter. Institutional investors and hedge funds own 2.06% of the company’s stock.

About Draganfly

Draganfly Inc manufactures and sells commercial unmanned aerial vehicles worldwide. Its products include quadcopters, fixed wing aircrafts, ground based robots, and handheld controllers, as well as software used for tracking, live streaming, flight training, and data collection. The company also offers custom engineering, training, consulting, spraying, flight, and geographic information systems data services.