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

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

Analysts Set New Price Targets

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

Drone Delivery Canada Price Performance

The stock has a 50 day moving average of C$0.66 and a two-hundred day moving average of C$0.63. The stock has a market cap of C$542.85 million, a PE ratio of -27.00 and a beta of 2.94. The company has a debt-to-equity ratio of 47.83, a quick ratio of 9.02 and a current ratio of 3.94.

About Drone Delivery Canada

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.