Drone Delivery Canada (CVE:FLT) Trading Down 15.6% – What’s Next?

Posted by Trevor Kearing on Oct 31st, 2024

Drone Delivery Canada Corp. (CVE:FLT – Get Free Report)’s stock price dropped 15.6% during mid-day trading on Tuesday . The company traded as low as C$0.13 and last traded at C$0.14. Approximately 3,107,730 shares were traded during mid-day trading, an increase of 1,183% from the average daily volume of 242,192 shares. The stock had previously closed at C$0.16.

Analysts Set New Price Targets

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

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Drone Delivery Canada Price Performance

The business has a 50 day moving average price of C$0.18 and a 200-day moving average price of C$0.20. 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 has a market capitalization of C$60.61 million, a price-to-earnings ratio of -3.38 and a beta of 0.94.

Drone Delivery Canada (CVE:FLT – Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The company reported C($0.01) earnings per share for the quarter. Drone Delivery Canada had a negative return on equity of 238.20% and a negative net margin of 28.94%. The firm had revenue of C$0.04 million for the quarter. Research analysts predict that Drone Delivery Canada Corp. will post -0.01 EPS for the current fiscal year.

About Drone Delivery Canada

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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.