Draganfly (NASDAQ:DPRO) Price Target Lowered to $0.50 at HC Wainwright

Draganfly (NASDAQ:DPRO) had its target price decreased by HC Wainwright from $1.00 to $0.50 in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Draganfly Trading Down 11.8 %

NASDAQ:DPRO opened at $0.13 on Wednesday. The stock’s 50 day moving average price is $0.20 and its 200 day moving average price is $0.24. The company has a market capitalization of $6.28 million, a PE ratio of -0.41 and a beta of 2.31. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 0.23. Draganfly has a 52-week low of $0.10 and a 52-week high of $1.04.

Draganfly (NASDAQ:DPRO) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.29 million. Draganfly had a negative return on equity of 497.78% and a negative net margin of 292.78%. During the same quarter last year, the business posted ($0.15) EPS. On average, research analysts anticipate that Draganfly will post -0.15 EPS for the current year.

Institutional Trading of Draganfly

An institutional investor recently bought a new position in Draganfly stock. Armistice Capital LLC acquired a new position in shares of Draganfly Inc. (NASDAQ:DPRO) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,473,000 shares of the company’s stock, valued at approximately $1,515,000. Armistice Capital LLC owned 13.13% 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.