Drone Delivery Canada (CVE:FLT) Trading Down 4.7% – Should You Sell?

Drone Delivery Canada Corp. (CVE:FLT) shares dropped 4.7% during mid-day trading on Wednesday . The company traded as low as C$0.80 and last traded at C$0.81. Approximately 1,608,169 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 2,074,800 shares. The stock had previously closed at C$0.85.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Haywood Securities set a C$0.90 price target on shares of Drone Delivery Canada and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Stifel Nicolaus set a C$0.85 price objective on shares of Drone Delivery Canada and gave the company a “buy” rating in a report on Thursday, November 27th. Finally, Maxim Group upgraded shares of Drone Delivery Canada to a “strong-buy” rating in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, Drone Delivery Canada presently has a consensus rating of “Strong Buy” and an average target price of C$11.25.

Drone Delivery Canada Stock Performance

The company has a fifty day moving average price of C$0.66 and a two-hundred day moving average price of C$0.63. The firm has a market cap of C$542.85 million, a price-to-earnings ratio of -27.00 and a beta of 2.94. The company has a debt-to-equity ratio of 47.83, a current ratio of 3.94 and a quick ratio of 9.02.

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.