Draganfly (NASDAQ:DPRO) Shares Down 13.3% – Here’s What Happened

Draganfly Inc. (NASDAQ:DPRO)’s stock price traded down 13.3% on Tuesday . The company traded as low as $2.36 and last traded at $2.41. 110,509 shares were traded during trading, a decline of 39% from the average session volume of 181,021 shares. The stock had previously closed at $2.78.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted their price objective on shares of Draganfly from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 23rd.

Draganfly Stock Performance

The company has a current ratio of 1.94, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $3.57 and its 200 day moving average is $3.13. The stock has a market capitalization of $4.75 million, a price-to-earnings ratio of -0.60 and a beta of 2.52.

Institutional Trading of Draganfly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC acquired a new position in Draganfly in the 3rd quarter valued at $28,000. Virtu Financial LLC purchased a new stake in shares of Draganfly in the fourth quarter valued at $51,000. Integrated Advisors Network LLC acquired a new position in Draganfly in the third quarter valued at $52,000. Finally, Kieckhefer Group LLC purchased a new position in Draganfly during the fourth quarter worth about $467,000. Hedge funds and other 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.