Volatus Aerospace (TSE:FLT) Shares Down 6.9% – Here’s What Happened

Volatus Aerospace Inc. (TSE:FLT) fell 6.9% during mid-day trading on Thursday . The company traded as low as C$0.64 and last traded at C$0.67. 3,042,139 shares traded hands during trading, an increase of 50% from the average session volume of 2,023,564 shares. The stock had previously closed at C$0.72.

Wall Street Analyst Weigh In

Separately, Haywood Securities set a C$0.90 price objective on shares of Volatus Aerospace and gave the company a “buy” rating in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Strong Buy” and an average price target of C$0.88.

Volatus Aerospace Stock Performance

The firm has a market cap of C$446.58 million, a P/E ratio of -16.50 and a beta of 3.01. The company has a quick ratio of 9.02, a current ratio of 0.71 and a debt-to-equity ratio of 566.20. The firm’s 50-day simple moving average is C$0.84 and its 200 day simple moving average is C$0.70.

Volatus Aerospace (TSE:FLT) last announced its quarterly earnings data on Tuesday, March 31st. The aerospace company reported C($0.01) EPS for the quarter. The company had revenue of C$7.30 million during the quarter. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. As a group, analysts expect that Volatus Aerospace Inc. will post -0.01 earnings per share for the current year.

Volatus Aerospace Company Profile

Volatus Aerospace Inc provides integrated aerial intelligence, drone logistics and aerospace solutions internationally.

The company offers drone inspection, surveillance, lidar, geomatics, mapping, pipeline monitoring, wildfire support, crewed aviation, drone delivery and training services, as well as remotely piloted aircraft systems and related software platforms. It serves customers in industries including oil and gas, energy and utilities, defense, construction and engineering, infrastructure, mining, agriculture, government, public safety and property development.

The company was formed through the merger of Drone Delivery Canada Corp.