Drone Delivery Canada (CVE:FLT) Trading Up 3.4% – Here’s Why

Shares of Drone Delivery Canada Corp. (CVE:FLT) rose 3.4% during mid-day trading on Monday . The company traded as high as C$0.16 and last traded at C$0.15. Approximately 489,151 shares traded hands during trading, an increase of 85% from the average daily volume of 264,776 shares. The stock had previously closed at C$0.15.

Analyst Ratings Changes

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 Performance

The company has a quick ratio of 9.02, a current ratio of 0.59 and a debt-to-equity ratio of 6.90. The firm has a 50 day moving average price of C$0.16 and a 200-day moving average price of C$0.18. The stock has a market capitalization of C$67.35 million, a PE ratio of -3.75 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.