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Drone Delivery Canada ( (TSE:FLT) ) has provided an announcement.
Volatus Aerospace Inc. has announced a $20 million bought deal public offering, with Stifel Nicolaus Canada Inc. acting as the lead underwriter. The proceeds from this offering will be used for the development of the Mirabel Manufacturing Hub, drone technology research for the defense sector, potential defense-related acquisitions, and general corporate purposes. This move is expected to enhance Volatus’s operational capabilities and strengthen its position in the aerospace industry, particularly in defense-related applications.
The most recent analyst rating on (TSE:FLT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Drone Delivery Canada stock, see the TSE:FLT Stock Forecast page.
Spark’s Take on TSE:FLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:FLT is a Neutral.
Drone Delivery Canada’s stock score is primarily influenced by its financial performance and technical analysis. While the company shows revenue growth, profitability remains a significant challenge. Technical indicators suggest positive momentum, but valuation concerns persist due to negative earnings. Improving operational efficiency and profitability will be key to enhancing the stock’s attractiveness.
To see Spark’s full report on TSE:FLT stock, click here.
More about Drone Delivery Canada
Volatus Aerospace Inc. is a company with extensive aviation expertise, providing innovative aerial solutions for intelligence, surveillance, and cargo using both piloted and remotely piloted aircraft. The company offers a comprehensive range of aerial services, including operations, equipment sales, training, and mission support, aimed at helping industries integrate aerial capabilities safely, efficiently, and sustainably.
Average Trading Volume: 2,052,966
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$417.3M
Learn more about FLT stock on TipRanks’ Stock Analysis page.