() saw a significant decrease in short-term interest in April. On April 30, there were 690,400 shorted shares. This is a reduction of 22,3% compared to the total of 888.400 shares on April 15. The days-to-cover is currently 1.3 days based on a trading volume average of 538.500 shares. About 2.1% of the stock is short-sold.
Draganfly: Hedge Funds weigh in
Recently, several institutional investors increased or decreased their stakes in this stock. AlphaCentric Advisors LLC increased its stake in Draganfly during the first quarter by 66.7%. AlphaCentric Advisors LLC owns 500,000 of the company’s shares valued at $640,000, after purchasing an additional 200,000 during the period. Citadel Advisors LLC increased its stake in Draganfly during the third quarter by 2,128,6%. Citadel Advisors LLC owns 73 545 shares worth $51,000, after purchasing an additional 70 245 shares. Virtu Financial LLC increased its stake in Draganfly during the fourth quarter by 59.0%. Virtu Financial LLC owns 43240 shares worth $32,000, after purchasing 16,048 additional shares. Jane Street Group LLC increased its holdings in Draganfly during the fourth quarter by 111.3%. Jane Street Group LLC owns now 39,388 of the company’s stock worth $30,000 after purchasing an additional 20,745 during the period. Trading on Friday saw a $0.02 decline, bringing the price to $0.92. The stock traded 76,864 compared to the average of 593.924. Draganfly's 12-month low is $0.50, and its 12-month high is $2.47. The debt-to equity ratio for the company is 0.02, current ratio 4.04, and quick ratio 3.72. The company's market capitalization is $32.03 millions, with a PE of -1.48. It also has a beta value of 3.36. The company has a moving average for fifty days of $1.31, and a moving average for two hundred days of $1.23.
The company last announced its quarterly results on Monday 27th March. The company's ($0.30 per share) quarterly earnings missed the consensus estimate ($0.11) ($0.19). Revenue for the quarter was $0.97 million, which is lower than the consensus estimate of $1.8 million. Draganfly's negative net margin was 355.49%, and its negative return on equity was 128.16%. Analysts from equities firms predict that Draganfly's current fiscal year will see -0.44 earnings per share.
Changes in Analyst Ratings
Separately on Tuesday, 28th March, HC Wainwright reiterated a buy' rating on the shares of Draganfly and set a target price of $3.50.
Draganfly Inc is a company that manufactures and distributes unmanned commercial aerial vehicles around the world. The company's products include quadcopters and fixed-wing aircrafts as well as ground-based robots and handheld controllers. It also offers software for tracking, data collection, live streaming and flight training. It also provides custom engineering, training, flight training and simulation consulting services.
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