Drone Delivery Canada (CVE:FLT) Trading Down 2.4% – Here’s Why

Drone Delivery Canada Corp. (CVE:FLT)’s share price fell 2.4% during mid-day trading on Monday . The company traded as low as C$0.20 and last traded at C$0.21. 341,678 shares traded hands during trading, an increase of 58% from the average session volume of 216,933 shares. The stock had previously closed at C$0.21.

Wall Street Analyst Weigh In

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

Drone Delivery Canada Stock Down 2.6 %

The company has a current ratio of 0.59, a quick ratio of 9.02 and a debt-to-equity ratio of 6.90. The firm has a 50 day moving average price of C$0.19 and a 200-day moving average price of C$0.20. The firm has a market cap of C$85.22 million, a price-to-earnings ratio of -4.88 and a beta of 0.94.

Drone Delivery Canada (CVE:FLT) last posted its quarterly earnings data on Monday, August 26th. The company reported C($0.01) EPS for the quarter. Drone Delivery Canada had a negative net margin of 28.94% and a negative return on equity of 238.20%. The company had revenue of C$0.04 million for the quarter. On average, equities analysts forecast that Drone Delivery Canada Corp. will post -0.01 EPS for the current year.

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.