Drone Delivery (TSXV:FLT) & AeroVironment: 2 Drone Stocks To Invest In

April 29, 2021 03:15 AM AEST | By Team Kalkine Media

Drone Delivery (TSXV:FLT) & AeroVironment: 2 Drone Stocks To Invest In — Image source: Dmitry Kalinovsky,Shutterstock

Drone Delivery Canada Corp (TSXV:FLT)

Drone Delivery Canada Corp was founded in 2014 and, over the years, it has grown rapidly. The company is now looking to expand its business beyond the country, including the US market.

Amid speculation of expanding to the US, Drone Delivery stocks shot up by about nine per cent on Tuesday, April 27, closing at C$ 1.43 apiece.

On Wednesday, the stock registered a surge of about three per cent at the time of writing this (12.45PM EST).

The Canadian drone company’s market cap is at C$ 330 million and its price-to-book (P/B) ratio is 11.385.

In the past six months, the stock rose by a whopping 120 per cent. Its year-to-date (YTD) growth, meanwhile, stands at over 74 per cent.

1-year chart of stock performance of Drone Delivery (Source: Refinitiv/Thomson Reuters)

In 2020, the company reduced its net and comprehensive loss to C$ 14.1 million, down from C$ 15.6 million in 2019. It also recorded cash and cash equivalents of C$ 23.4 million in fiscal 2020, up from C$ 9.7 million in 2019.

AeroVironment Inc. (NASDAQ:AVAV, AVAV:US)

AeroVironment Inc is one of the leading manufacturers of UAVs (unmanned aircraft systems) in the US. Its market cap is about C$ 2.7 billion, as per TMX data, and its return on equity is 5.88 per cent.

1-year chart of stock performance of AeroVironment (Source: Refinitiv/Thomson Reuters)

In the past week, AVAV stock grew by about 10 per cent. It secured a growth of 97 per cent in the last one year.

AeroVironment achieved a total revenue of US$ 367.3 million in 2020, up from that of US$ 314.3 million in 2019.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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