Drone Delivery Canada (CVE:FLT) Shares Down 3.1% – Should You Sell?

Drone Delivery Canada Corp. (CVE:FLT) shares fell 3.1% during trading on Monday . The company traded as low as C$0.16 and last traded at C$0.16. 196,361 shares changed hands during trading, a decline of 50% from the average session volume of 394,033 shares. The stock had previously closed at C$0.16.

Wall Street Analyst Weigh In

Separately, Ventum Financial lowered their price objective on Drone Delivery Canada from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th.

Drone Delivery Canada Stock Performance

The stock has a fifty day simple moving average of C$0.17 and a 200-day simple moving average of C$0.16. The company has a quick ratio of 9.02, a current ratio of 0.46 and a debt-to-equity ratio of 67.19. The company has a market capitalization of C$71.07 million, a P/E ratio of -3.14 and a beta of 0.94.

About Drone Delivery Canada

Drone Delivery Canada Corp. designs, develops, and implements a commercial drone-based logistics platform in Canada and internationally. The company's logistics infrastructure solution is an integrated turnkey logistics platform, which include industrial-grade drones, automated DroneSpot depots, automated battery management systems, a detect and avoid radar system, and proprietary FLYTE software to integrate various components into a solution.