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

Draganfly Inc. (NASDAQ:DPRO) was the recipient of a large growth in short interest during 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. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 231,900 shares, the days-to-cover ratio is presently 0.4 days.

Draganfly Trading Up 9.6 %

NASDAQ:DPRO traded up $0.22 on Friday, reaching $2.52. The company’s stock had a trading volume of 98,611 shares, compared to its average volume of 108,791. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.69. The business’s 50-day moving average price is $0.71 and its two-hundred day moving average price is $0.25. Draganfly has a 1-year low of $1.55 and a 1-year high of $20.00. The firm has a market cap of $124.22 million, a PE ratio of -8.13 and a beta of 2.24.

Draganfly (NASDAQ:DPRO) last announced its quarterly earnings results 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 firm had revenue of $1.27 million for the quarter, compared to analyst estimates of $2.07 million. Equities research analysts anticipate that Draganfly will post -5.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of 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) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,473,000 shares of the company’s stock, valued at approximately $1,515,000. Armistice Capital LLC owned about 13.13% of Draganfly at the end of the most recent quarter. Institutional investors 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.