Draganfly Inc. (NASDAQ:DPRO) Short Interest Update

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 2,680,000 shares, a growth of 68.6% from the March 31st total of 1,590,000 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $1.00 price target on shares of Draganfly in a research note on Monday, April 1st.

Institutional Trading of Draganfly

An institutional investor recently bought a new position in Draganfly stock. Armistice Capital LLC purchased a new stake in Draganfly Inc. (NASDAQ:DPRO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 reporting period. Hedge funds and other institutional investors own 10.39% of the company’s stock.

Draganfly Stock Down 2.2 %

Shares of Draganfly stock opened at $0.26 on Monday. Draganfly has a 52-week low of $0.13 and a 52-week high of $1.48. The company has a 50 day moving average of $0.22 and a 200 day moving average of $0.41. The company has a quick ratio of 0.69, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $12.77 million, a P/E ratio of -0.59 and a beta of 2.62.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Draganfly had a negative net margin of 359.88% and a negative return on equity of 327.92%. The company had revenue of $0.67 million during the quarter, compared to the consensus estimate of $2.40 million. As a group, research analysts forecast that Draganfly will post -0.18 EPS for the current fiscal year.

Draganfly Company Profile

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.