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Drone Delivery Canada ( (TSE:FLT) ) has issued an update.
Volatus Aerospace Inc., a company engaged in aerospace and defense manufacturing, has announced a non-brokered private placement of up to $4.66 million, bringing its total financing to over $24.6 million. This financing will support the development of its Mirabel Manufacturing Hub, research and development of drone technologies, and potential acquisitions related to the defense sector. Additionally, Volatus has completed the acquisition of advanced RPAS technologies from Caliburn Holdings LLP, enhancing its capabilities in manufacturing long-endurance, fixed-wing uncrewed aircraft systems for defense and public security sectors.
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, which shows revenue growth but significant profitability challenges. Technical analysis suggests some medium-term support despite short-term weakness. Valuation is negatively impacted by a lack of profitability and dividend yield. The absence of earnings call data and corporate events limits additional insights.
To see Spark’s full report on TSE:FLT stock, click here.
More about Drone Delivery Canada
YTD Price Performance: 313.79%
Average Trading Volume: 2,070,948
Technical Sentiment Signal: Buy
Current Market Cap: C$368.8M
For a thorough assessment of FLT stock, go to TipRanks’ Stock Analysis page.