Ventum Financial Has Lowered Expectations for Drone Delivery Canada (CVE:FLT) Stock Price

Drone Delivery Canada (CVE:FLT) had its price objective lowered by stock analysts at Ventum Financial from C$38.00 to C$32.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock.

Drone Delivery Canada Trading Up 5.9 %

Shares of CVE FLT traded up C$0.01 during mid-day trading on Wednesday, hitting C$0.18. 499,783 shares of the company traded hands, compared to its average volume of 420,263. The company has a quick ratio of 9.02, a current ratio of 0.46 and a debt-to-equity ratio of 67.19. Drone Delivery Canada has a 1 year low of C$0.10 and a 1 year high of C$0.38. The stock has a market capitalization of C$82.54 million, a price-to-earnings ratio of -3.65 and a beta of 0.94. The business has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.17.

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.