Diamond Equity Comments on Draganfly Inc.’s Q1 2023 Earnings (NASDAQ:DPRO)

Posted by Defense World Staff on Apr 7th, 2023

Draganfly Inc. (NASDAQ:DPRO – Get Rating) – Analysts at Diamond Equity issued their Q1 2023 earnings per share estimates for Draganfly in a note issued to investors on Monday, April 3rd. Diamond Equity analyst H. Diamond forecasts that the company will post earnings per share of ($0.15) for the quarter. The consensus estimate for Draganfly’s current full-year earnings is ($0.37) per share. Diamond Equity also issued estimates for Draganfly’s Q2 2023 earnings at ($0.13) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.10) EPS, FY2023 earnings at ($0.50) EPS, Q1 2024 earnings at ($0.13) EPS, Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.53) EPS and FY2025 earnings at ($0.31) EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.50 price target on shares of Draganfly in a report on Tuesday, March 28th.

Draganfly Price Performance

Shares of NASDAQ DPRO opened at $1.19 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.04 and a quick ratio of 3.72. The stock has a fifty day moving average price of $1.82 and a 200 day moving average price of $1.18. Draganfly has a 1-year low of $0.50 and a 1-year high of $2.47. The company has a market cap of $39.51 million, a PE ratio of -1.92 and a beta of 3.44.

Institutional Investors Weigh In On Draganfly

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its position in Draganfly by 111.3% in the fourth quarter. Jane Street Group LLC now owns 39,388 shares of the company’s stock worth $30,000 after acquiring an additional 20,745 shares in the last quarter. Virtu Financial LLC raised its position in Draganfly by 59.0% in the fourth quarter. Virtu Financial LLC now owns 43,240 shares of the company’s stock worth $32,000 after acquiring an additional 16,048 shares in the last quarter. AlphaCentric Advisors LLC raised its position in Draganfly by 20.0% in the fourth quarter. AlphaCentric Advisors LLC now owns 300,000 shares of the company’s stock worth $222,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in Draganfly by 2,128.6% in the third quarter. Citadel Advisors LLC now owns 73,545 shares of the company’s stock worth $51,000 after acquiring an additional 70,245 shares in the last quarter. 0.52% of the stock is owned by institutional investors and hedge funds.

Draganfly Company Profile

(Get Rating)

Draganfly Inc manufactures and sells commercial unmanned aerial vehicles worldwide. Its products include quadcopters, fixed wing aircrafts, ground based robots, and handheld controllers, as well as software used for tracking, live streaming, flight training, and data collection. The company also offers custom engineering and training, simulation consulting, and flight training services, as well as wireless video systems.