Draganfly Inc. (NASDAQ:DPRO) Short Interest Up 29.5% in March

Draganfly Inc. (NASDAQ:DPRO) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 125,600 shares, a growth of 29.5% from the February 28th total of 97,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 196,400 shares, the short-interest ratio is currently 0.6 days.

Draganfly Stock Performance

Shares of NASDAQ:DPRO traded down $0.08 during trading on Wednesday, hitting $2.37. 116,815 shares of the stock traded hands, compared to its average volume of 193,010. The company has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $3.12. Draganfly has a 52-week low of $1.55 and a 52-week high of $9.13. The company has a market cap of $4.67 million, a price-to-earnings ratio of -0.59 and a beta of 2.57. The company has a quick ratio of 1.54, a current ratio of 1.94 and a debt-to-equity ratio of 0.07.

Draganfly (NASDAQ:DPRO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.14). Draganfly had a negative return on equity of 1,487.09% and a negative net margin of 227.25%. The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $2.42 million. As a group, equities analysts predict that Draganfly will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Draganfly

Several hedge funds and other institutional investors have recently made changes to their positions in DPRO. Integrated Advisors Network LLC lifted its stake in shares of Draganfly by 46.3% in the fourth quarter. Integrated Advisors Network LLC now owns 30,000 shares of the company’s stock worth $120,000 after buying an additional 9,500 shares in the last quarter. Virtu Financial LLC acquired a new stake in Draganfly during the fourth quarter worth $51,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Draganfly in the 4th quarter valued at $467,000. Hedge funds and other institutional investors own 10.39% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright upped their target price on Draganfly from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd.

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.