Draganfly Inc. (NASDAQ:DPRO) Sees Large Drop in Short Interest

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 161,200 shares, a decline of 34.0% from the November 30th total of 244,200 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 308,600 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Draganfly

Institutional investors have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in Draganfly in the 2nd quarter valued at $1,515,000. Integrated Advisors Network LLC bought a new position in shares of Draganfly in the third quarter valued at $52,000. Finally, Ground Swell Capital LLC bought a new position in shares of Draganfly in the third quarter valued at $28,000. 10.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DPRO has been the subject of several research analyst reports. HC Wainwright lifted their price objective on shares of Draganfly from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Maxim Group began coverage on shares of Draganfly in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price target for the company.

Draganfly Stock Down 2.5 %

DPRO stock opened at $4.74 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 1.94. Draganfly has a fifty-two week low of $1.55 and a fifty-two week high of $12.50. The stock’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $3.62. The company has a market cap of $9.35 million, a P/E ratio of -1.17 and a beta of 2.58.

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.