Drone Delivery Canada (CVE:FLT) Stock Price Up 21.4% – Here’s What Happened

Drone Delivery Canada Corp. (CVE:FLT)’s share price shot up 21.4% during mid-day trading on Monday . The company traded as high as C$0.18 and last traded at C$0.17. 5,985,209 shares changed hands during mid-day trading, an increase of 1,325% from the average session volume of 420,070 shares. The stock had previously closed at C$0.14.

Analyst Upgrades and Downgrades

Separately, Ventum Financial cut their price target on shares of 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 market cap of C$77.95 million, a PE ratio of -3.45 and a beta of 0.94. The company has a debt-to-equity ratio of 67.19, a current ratio of 0.46 and a quick ratio of 9.02. The stock has a 50-day simple moving average of C$0.15 and a 200-day simple moving average of C$0.16.

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.