Drone Delivery Canada (CVE:FLT) Trading Down 3.7% – Should You Sell?

Drone Delivery Canada Corp. (CVE:FLT)’s stock price was down 3.7% during mid-day trading on Wednesday . The company traded as low as C$0.13 and last traded at C$0.13. Approximately 52,164 shares changed hands during trading, a decline of 81% from the average daily volume of 269,784 shares. The stock had previously closed at C$0.14.

Wall Street Analysts Forecast Growth

Separately, Ventum Cap Mkts upgraded shares of Drone Delivery Canada to a “strong-buy” rating in a research note on Monday, September 9th.

Drone Delivery Canada Stock Down 3.7 %

The company has a debt-to-equity ratio of 6.90, a quick ratio of 9.02 and a current ratio of 0.59. The company’s 50-day moving average price is C$0.14 and its 200 day moving average price is C$0.17. The stock has a market capitalization of C$58.37 million, a P/E ratio of -3.25 and a beta of 0.94.

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.