Draganfly Inc (NASDAQ:DPRO) shares, rose in value, with the stock price up by 11.76% to the previous day’s close as strong demand from buyers drove the stock to $0.25.
Actively observing the price movement in the last trading, the stock closed the session at $0.22. Referring to stock’s 52-week performance, its high was $1.48, and the low was $0.13. On the whole, DPRO has fluctuated by 49.82% over the past month.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DPRO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DPRO currently trading nearly 39.31% and -7.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.37, while the 7-day volatility ratio is showing 17.37% which for the 30-day chart, stands at 9.65%. Furthermore, Draganfly Inc (DPRO)’s beta value is 1.35, and its average true range (ATR) is 0.03.
A comparison of Draganfly Inc (DPRO) with its peers suggests the former has fared considerably weaker in the market. DPRO showed an intraday change of 11.76% in last session, and over the past year, it shrunk by -80.48%%.
Data on historical trading for Draganfly Inc (NASDAQ:DPRO) indicates that the trading volumes over the past 10 days have averaged 1.52 million and over the past 3 months, they’ve averaged 1.13 million. According to company’s latest data on outstanding shares, there are 64.29 million shares outstanding.
Nearly 2.80% of Draganfly Inc’s shares belong to company insiders and institutional investors own 8.75% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.37 million shares as on Mar 15, 2024, resulting in a short ratio of 0.16. According to the data, the short interest in Draganfly Inc (DPRO) stood at 0.58% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.51 million. The stock has fallen by -47.88% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DPRO stock heading into the next quarter.
