Draganfly Inc. (NASDAQ:DPRO) Sees Significant Increase in Short Interest
by Doug Wharley · The Cerbat GemDraganfly Inc. (NASDAQ:DPRO – Get Free Report) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 5,323,283 shares, an increase of 23.9% from the February 12th total of 4,295,416 shares. Approximately 98.1% of the shares of the company are short sold. Based on an average trading volume of 1,841,145 shares, the days-to-cover ratio is currently 2.9 days. Based on an average trading volume of 1,841,145 shares, the days-to-cover ratio is currently 2.9 days. Approximately 98.1% of the shares of the company are short sold.
Draganfly Price Performance
Shares of NASDAQ DPRO traded down $0.27 during mid-day trading on Friday, hitting $6.34. The company had a trading volume of 1,463,079 shares, compared to its average volume of 2,117,796. The stock has a market cap of $34.43 million, a price-to-earnings ratio of -3.43 and a beta of 2.66. The firm’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $7.68. Draganfly has a 12 month low of $1.63 and a 12 month high of $14.40.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Kieckhefer Group LLC raised its holdings in shares of Draganfly by 57.3% during the third quarter. Kieckhefer Group LLC now owns 315,657 shares of the company’s stock valued at $2,569,000 after buying an additional 115,000 shares during the last quarter. DNB Asset Management AS grew its holdings in Draganfly by 151.5% in the 3rd quarter. DNB Asset Management AS now owns 269,591 shares of the company’s stock worth $2,194,000 after buying an additional 162,408 shares in the last quarter. Concentric Capital Strategies LP bought a new position in Draganfly in the 4th quarter worth approximately $1,569,000. Vident Advisory LLC acquired a new stake in Draganfly in the 4th quarter valued at approximately $813,000. Finally, Virtu Financial LLC acquired a new stake in Draganfly in the 3rd quarter valued at approximately $894,000. 10.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently issued reports on DPRO. LADENBURG THALM/SH SH raised Draganfly to a “strong-buy” rating in a research report on Thursday, December 18th. Northland Securities set a $20.00 price objective on shares of Draganfly in a report on Thursday, January 15th. Finally, Wall Street Zen lowered shares of Draganfly from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and an average price target of $16.75.
Read Our Latest Stock Analysis on DPRO
About Draganfly
Draganfly Inc (NASDAQ: DPRO) is a Canada-based developer and manufacturer of unmanned aerial systems (UAS) and related software solutions for commercial, government and academic applications. Headquartered in Saskatoon, Saskatchewan, the company specializes in designing lightweight, modular drones that integrate advanced sensor payloads—including high-resolution imaging, multispectral and thermal cameras—to gather aerial data across a range of industries.
The company’s core offerings include turnkey UAS platforms, data-capture payloads and proprietary analytics software that enable clients to perform precision agriculture monitoring, land surveying, infrastructure inspection and environmental assessment.