HC Wainwright Issues Pessimistic Forecast for Draganfly (NASDAQ:DPRO) Stock Price

Draganfly (NASDAQ:DPRO) had its target price trimmed by HC Wainwright from $7.00 to $5.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Maxim Group started coverage on shares of Draganfly in a report on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price objective on the stock.

Draganfly Stock Performance

Shares of Draganfly stock opened at $2.51 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.69 and a quick ratio of 0.56. The firm has a market cap of $4.94 million, a price-to-earnings ratio of -0.62 and a beta of 2.24. The stock’s 50-day moving average is $2.64 and its 200-day moving average is $4.18. Draganfly has a one year low of $1.55 and a one year high of $15.00.

Institutional Trading of Draganfly

A number of hedge funds and other institutional investors have recently modified their holdings of DPRO. Ground Swell Capital LLC bought a new position in Draganfly in the third quarter valued at approximately $28,000. Integrated Advisors Network LLC acquired a new stake in shares of Draganfly in the 3rd quarter valued at approximately $52,000. Finally, Armistice Capital LLC bought a new position in shares of Draganfly in the second quarter valued at $1,515,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

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.