Short Interest in Draganfly Inc. (NASDAQ:DPRO) Rises By 68.6%

Draganfly Inc. (NASDAQ:DPRO) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,680,000 shares, an increase of 68.6% from the March 31st total of 1,590,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 4.3% of the company’s stock are short sold.

Draganfly Price Performance

DPRO opened at $0.26 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.69. The company has a market capitalization of $12.77 million, a price-to-earnings ratio of -0.59 and a beta of 2.62. The firm’s fifty day moving average price is $0.22 and its two-hundred day moving average price is $0.41. Draganfly has a 1 year low of $0.13 and a 1 year high of $1.48.

Draganfly (NASDAQ:DPRO) last posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $0.67 million for the quarter, compared to the consensus estimate of $2.40 million. Draganfly had a negative net margin of 359.88% and a negative return on equity of 327.92%. As a group, analysts anticipate that Draganfly will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 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) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,150,000 shares of the company’s stock, valued at approximately $1,990,000. Armistice Capital LLC owned about 8.43% of Draganfly at the end of the most recent reporting period. 10.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $1.00 price target on shares of Draganfly in a research report on Monday, April 1st.

Draganfly Company Profile

Draganfly Inc manufactures and sells commercial unmanned aerial vehicles worldwide. Its products include quadcopters, fixed wing aircrafts, ground based robots, and handheld controllers, as well as software used for tracking, live streaming, flight training, and data collection. The company also offers custom engineering, training, consulting, spraying, flight, and geographic information systems data services.