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

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

Draganfly Price Performance

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DPRO shares. HC Wainwright upped their price target on shares of Draganfly from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Maxim Group initiated coverage on Draganfly in a report on Wednesday, October 2nd. They issued a “buy” rating and a $7.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in shares of Draganfly during the second quarter worth $1,515,000. Integrated Advisors Network LLC bought a new stake in Draganfly during the third quarter valued at $52,000. Finally, Ground Swell Capital LLC bought a new stake in Draganfly during the third quarter valued at $28,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

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.