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

Shares of Drone Delivery Canada Corp. (CVE:FLT) were down 15.6% during mid-day trading on Tuesday . The stock traded as low as C$0.13 and last traded at C$0.14. Approximately 3,107,730 shares traded hands 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.

Wall Street Analysts Forecast Growth

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

Drone Delivery Canada Trading Down 3.6 %

The firm has a fifty day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.20. The firm has a market capitalization of C$60.61 million, a P/E ratio of -3.38 and a beta of 0.94. The company has a debt-to-equity ratio of 6.90, a current ratio of 0.59 and a quick ratio of 9.02.

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

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.