Draganfly Inc. (NASDAQ:DPRO) Sees Significant Growth in Short Interest

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 83,200 shares, a growth of 43.0% from the August 31st total of 58,200 shares. Based on an average daily volume of 231,900 shares, the short-interest ratio is currently 0.4 days. Approximately 2.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Draganfly

A hedge fund recently bought a new stake in Draganfly stock. Armistice Capital LLC bought a new position in shares of Draganfly Inc. (NASDAQ:DPRO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 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 quarter. Institutional investors and hedge funds own 10.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their target price on shares of Draganfly from $0.50 to $7.00 and gave the company a “buy” rating in a research note on Friday, September 6th.

Draganfly Trading Up 9.6 %

DPRO traded up $0.22 on Friday, reaching $2.52. 98,611 shares of the company traded hands, compared to its average volume of 108,791. Draganfly has a one year low of $1.55 and a one year high of $20.00. The firm has a fifty day simple moving average of $0.71 and a two-hundred day simple moving average of $0.25. The company has a market cap of $124.22 million, a P/E ratio of -8.13 and a beta of 2.24. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.23.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.00 earnings per share for the quarter. Draganfly had a negative net margin of 303.16% and a negative return on equity of 1,845.76%. The company had revenue of $1.27 million during the quarter, compared to analyst estimates of $2.07 million. As a group, equities research analysts expect that Draganfly will post -5.03 earnings per share for the current year.

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.