Drone Delivery Canada (CVE:FLT) Shares Down 3.7% – Here’s Why

Drone Delivery Canada Corp. (CVE:FLT)’s share price traded down 3.7% during trading on Wednesday . The company traded as low as C$0.13 and last traded at C$0.13. 52,164 shares were traded during mid-day trading, a decline of 81% from the average session volume of 269,784 shares. The stock had previously closed at C$0.14.

Analyst Upgrades and Downgrades

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

Drone Delivery Canada Stock Down 3.7 %

The company has a 50-day moving average price of C$0.14 and a 200 day moving average price of C$0.17. The company has a debt-to-equity ratio of 6.90, a current ratio of 0.59 and a quick ratio of 9.02. The firm has a market capitalization of C$58.37 million, a PE ratio of -3.25 and a beta of 0.94.

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.