Draganfly (NASDAQ:DPRO) Stock Price Up 18.7% – Here’s Why

Draganfly Inc. (NASDAQ:DPRO) traded up 18.7% on Friday . The company traded as high as $3.99 and last traded at $3.87. 384,880 shares changed hands during mid-day trading, an increase of 164% from the average session volume of 146,020 shares. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DPRO shares. Maxim Group assumed coverage on shares of Draganfly in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reduced their target price on shares of Draganfly from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 15th.

Draganfly Stock Up 18.7 %

The company has a market capitalization of $7.63 million, a price-to-earnings ratio of -0.96 and a beta of 2.58. 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 $2.87 and a 200-day moving average price of $3.90.

Institutional Investors Weigh In On Draganfly

Large investors have recently made changes to their positions in the company. Ground Swell Capital LLC acquired a new position in Draganfly during the third quarter valued at $28,000. Integrated Advisors Network LLC acquired a new position in shares of Draganfly in the 3rd quarter valued at about $52,000. Finally, Armistice Capital LLC purchased a new stake in shares of Draganfly in the second quarter worth approximately $1,515,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

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.