Drone Delivery Canada (CVE:FLT) Stock Price Down 3.1% - Here's What Happened

Shares of Drone Delivery Canada Corp. (CVE:FLT - Get Free Report) fell 3.1% during trading on Monday . The company traded as low as C$0.16 and last traded at C$0.16. 196,361 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 394,033 shares. The stock had previously closed at C$0.16.

Analyst Ratings Changes

Separately, Ventum Financial cut their price target on shares of Drone Delivery Canada from C$38.00 to C$32.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th.

Drone Delivery Canada Price Performance

The stock has a 50 day moving average of C$0.17 and a 200-day moving average of C$0.16. The company has a debt-to-equity ratio of 67.19, a quick ratio of 9.02 and a current ratio of 0.46. The company has a market cap of C$68.78 million, a PE ratio of -3.04 and a beta of 0.94.

Drone Delivery Canada Company Profile

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.