Drone Delivery Canada (CVE:FLT) Stock Price Down 1.5% – What’s Next?

Drone Delivery Canada Corp. (CVE:FLT)’s share price dropped 1.5% on Wednesday . The stock traded as low as C$0.64 and last traded at C$0.67. Approximately 1,060,415 shares were traded during trading, a decline of 29% from the average daily volume of 1,484,318 shares. The stock had previously closed at C$0.68.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Maxim Group upgraded shares of Drone Delivery Canada to a “strong-buy” rating in a report on Wednesday, December 10th. Stifel Canada upgraded shares of Drone Delivery Canada to a “strong-buy” rating in a research report on Wednesday, November 26th. Finally, Stifel Nicolaus set a C$0.85 price objective on Drone Delivery Canada and gave the stock a “buy” rating in a research note on Thursday, November 27th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus target price of C$16.43.

Drone Delivery Canada Price Performance

The company has a market cap of C$447.69 million, a price-to-earnings ratio of -22.33 and a beta of 2.86. 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’s fifty day moving average price is C$0.58 and its two-hundred day moving average price is C$0.60.

Drone Delivery Canada Company Profile

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. It serves governments; commercial and industrial applications, such as emergency services, medical, last-mile delivery, mining, oil and gas, agriculture, parcel delivery, postal mail, and military/security; and indigenous and non-indigenous remote communities.