Short Interest in Draganfly Inc. (NASDAQ:DPRO) Rises By 29.5%

Draganfly Inc. (NASDAQ:DPRO) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 125,600 shares, an increase of 29.5% from the February 28th total of 97,000 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average trading volume of 196,400 shares, the short-interest ratio is presently 0.6 days.

Draganfly Stock Down 2.6 %

Draganfly stock traded down $0.07 during trading on Tuesday, reaching $2.67. The stock had a trading volume of 6,492 shares, compared to its average volume of 192,845. The company has a quick ratio of 1.54, a current ratio of 1.94 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.12. The stock has a market cap of $5.26 million, a PE ratio of -0.66 and a beta of 2.57. Draganfly has a 52-week low of $1.55 and a 52-week high of $9.13.

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted 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.

Institutional Trading of Draganfly

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Draganfly during the 4th quarter worth approximately $51,000. Integrated Advisors Network LLC increased its position 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 valued at $120,000 after buying an additional 9,500 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Draganfly in the 4th quarter worth about $467,000. 10.39% of the stock is owned by institutional investors and hedge funds.

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.