Drone Delivery Canada (CVE:FLT) Trading 5.3% Higher – Still a Buy?

Drone Delivery Canada Corp. (CVE:FLT)’s share price was up 5.3% during mid-day trading on Wednesday . The stock traded as high as C$0.60 and last traded at C$0.60. Approximately 777,894 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,679,495 shares. The stock had previously closed at C$0.57.

Analyst Upgrades and Downgrades

FLT has been the subject of several analyst reports. Stifel Nicolaus set a C$0.85 price objective on shares of Drone Delivery Canada and gave the stock a “buy” rating in a research note on Thursday, November 27th. Maxim Group raised Drone Delivery Canada to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, Stifel Canada upgraded Drone Delivery Canada to a “strong-buy” rating in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, Drone Delivery Canada has an average rating of “Strong Buy” and an average price target of C$16.43.

Drone Delivery Canada Trading Up 5.3%

The stock’s 50-day moving average price is C$0.60 and its 200 day moving average price is C$0.56. The company has a debt-to-equity ratio of 67.19, a current ratio of 0.46 and a quick ratio of 9.02. The firm has a market capitalization of C$399.71 million, a PE ratio of -20.00 and a beta of 2.73.

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.