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Drone Delivery Canada ( (TSE:FLT) ) has shared an update.
Volatus Aerospace Inc. has successfully closed a $26,391,500 financing round through a public offering and private placement. The funds will be used to develop the Mirabel Manufacturing Hub, advance drone technologies for the defense sector, pursue potential acquisitions, and cover capital expenditures and general corporate purposes. This strategic move is expected to bolster Volatus’s position in the aerospace industry and enhance its capabilities in providing advanced aerial solutions.
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.
The overall stock score is primarily influenced by weak financial performance and bearish technical indicators. The company’s negative profitability and valuation metrics, combined with bearish market momentum, contribute to a low score. Improving profitability and reversing bearish trends are essential for 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 ecosystem of aerial services, including operations, equipment sales, training, and mission support, aimed at integrating aerial capabilities safely, efficiently, and sustainably across various industries.
Average Trading Volume: 1,724,334
Technical Sentiment Signal: Buy
Current Market Cap: C$338.1M
For detailed information about FLT stock, go to TipRanks’ Stock Analysis page.