Volatus Aerospace (TSE:FLT) Price Target Raised to C$1.00

Volatus Aerospace (TSE:FLT) had its target price lifted by analysts at Ventum Capital from C$0.95 to C$1.00 in a research note issued on Thursday, BayStreet reports. The firm presently has a “buy” rating on the aerospace company’s stock. Ventum Capital’s price target would indicate a potential upside of 96.08% from the stock’s current price.

Separately, Desjardins raised their target price on Volatus Aerospace from C$0.90 to C$0.95 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$0.92.

Volatus Aerospace Trading Up 4.1%

TSE FLT traded up C$0.02 on Thursday, hitting C$0.51. 488,721 shares of the stock were exchanged, compared to its average volume of 1,677,563. Volatus Aerospace has a 52-week low of C$0.45 and a 52-week high of C$0.89. The company has a debt-to-equity ratio of 566.20, a current ratio of 0.71 and a quick ratio of 9.02. The company has a market capitalization of C$375.05 million, a price-to-earnings ratio of -12.75 and a beta of 2.67. The company’s 50-day moving average price is C$0.55 and its two-hundred day moving average price is C$0.64.

Volatus Aerospace (TSE:FLT) last announced its earnings results on Thursday, August 13th. The aerospace company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$8.42 million for the quarter. Volatus Aerospace had a negative net margin of 27.14% and a negative return on equity of 115.14%. Research analysts predict that Volatus Aerospace will post -0.01 EPS 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.