Ventum Financial Issues Pessimistic Forecast for Drone Delivery Canada (CVE:FLT) Stock Price

Drone Delivery Canada (CVE:FLT) had its target price cut by equities research analysts at Ventum Financial from C$38.00 to C$32.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock.

Drone Delivery Canada Price Performance

CVE FLT traded up C$0.01 on Wednesday, reaching C$0.18. 499,783 shares of the stock traded hands, compared to its average volume of 420,263. Drone Delivery Canada has a 12 month low of C$0.10 and a 12 month high of C$0.38. The company has a quick ratio of 9.02, a current ratio of 0.46 and a debt-to-equity ratio of 67.19. The firm’s fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.17. The company has a market cap of C$82.54 million, a price-to-earnings ratio of -3.65 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.