HC Wainwright Forecasts Strong Price Appreciation for Draganfly (NASDAQ:DPRO) Stock

Draganfly (NASDAQ:DPRO) had its target price upped by equities research analysts at HC Wainwright from $5.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 56.25% from the stock’s previous close.

Separately, Maxim Group began coverage on Draganfly in a research note on Wednesday, October 2nd. They set a “buy” rating and a $7.00 price target on the stock.

Draganfly Stock Performance

Shares of DPRO opened at $4.48 on Monday. Draganfly has a 1 year low of $1.55 and a 1 year high of $12.50. The company’s 50 day simple moving average is $3.15 and its 200 day simple moving average is $3.65. The company has a market capitalization of $8.83 million, a price-to-earnings ratio of -1.11 and a beta of 2.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 1.94.

Institutional Investors Weigh In On Draganfly

Several hedge funds have recently modified their holdings of the stock. Ground Swell Capital LLC acquired a new position in Draganfly during the third quarter worth approximately $28,000. Integrated Advisors Network LLC purchased a new stake in shares of Draganfly during the 3rd quarter valued at $52,000. Finally, Armistice Capital LLC acquired a new stake in shares of Draganfly during the 2nd quarter worth $1,515,000. 10.39% of the stock is owned by institutional investors and hedge funds.

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.