Draganfly Inc. (NASDAQ:DPRO) Sees Large Growth in Short Interest

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 192,700 shares, a growth of 131.6% from the September 15th total of 83,200 shares. Based on an average daily volume of 248,600 shares, the days-to-cover ratio is currently 0.8 days. Currently, 5.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DPRO. HC Wainwright lifted their price target on Draganfly from $0.50 to $7.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Maxim Group began coverage on Draganfly in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price target on the stock.

Draganfly Stock Up 0.3 %

NASDAQ:DPRO traded up $0.01 on Friday, hitting $3.70. 55,954 shares of the company’s stock traded hands, compared to its average volume of 108,956. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. Draganfly has a 1 year low of $1.55 and a 1 year high of $19.74. The firm has a 50-day moving average price of $2.85 and a 200-day moving average price of $4.81. The company has a market cap of $182.38 million, a PE ratio of -11.94 and a beta of 2.24.

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

Institutional Investors Weigh In On Draganfly

A hedge fund recently bought a new stake in Draganfly stock. Armistice Capital LLC bought a new position in Draganfly Inc. (NASDAQ:DPRO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,473,000 shares of the company’s stock, valued at approximately $1,515,000. Armistice Capital LLC owned about 13.13% of Draganfly as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 10.39% of the company’s stock.

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.