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

Draganfly Inc. (NASDAQ:DPRO) saw a large 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 shares of the company are short sold. Based on an average trading volume of 196,400 shares, the days-to-cover ratio is currently 0.6 days.

Draganfly Stock Performance

Shares of Draganfly stock traded up $0.08 on Monday, reaching $2.66. 35,173 shares of the company were exchanged, compared to its average volume of 193,535. Draganfly has a 1-year low of $1.55 and a 1-year high of $9.13. The firm has a market cap of $5.25 million, a price-to-earnings ratio of -0.66 and a beta of 2.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 1.94. The company’s 50-day moving average is $2.92 and its two-hundred day moving average is $3.11.

Draganfly (NASDAQ:DPRO) last posted its 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). Draganfly had a negative net margin of 227.25% and a negative return on equity of 1,487.09%. The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $2.42 million. As a group, research analysts expect that Draganfly will post -3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price objective 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

Hedge funds have recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in Draganfly during the 4th quarter valued at about $467,000. Integrated Advisors Network LLC raised its stake in shares of Draganfly by 46.3% in the 4th 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. Finally, Virtu Financial LLC acquired a new position in Draganfly during the fourth quarter worth about $51,000. Institutional investors 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.