Desjardins Issues Pessimistic Forecast for Volatus Aerospace (TSE:FLT) Stock Price

Volatus Aerospace (TSE:FLT) had its price objective decreased by equities researchers at Desjardins from C$0.95 to C$0.90 in a research report issued on Thursday, BayStreet reports. The firm currently has a “buy” rating on the aerospace company’s stock. Desjardins‘s price target would indicate a potential upside of 106.90% from the stock’s previous close.

Several other equities research analysts have also commented on FLT. ATB Cormark Capital Markets set a C$1.00 price target on shares of Volatus Aerospace and gave the company a “speculative buy” rating in a report on Wednesday, October 21st. Ventum Capital increased their price objective on shares of Volatus Aerospace from C$0.95 to C$1.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$0.93.

Volatus Aerospace Stock Up 2.4%

Shares of Volatus Aerospace stock traded up C$0.01 during trading on Thursday, hitting C$0.43. 921,572 shares of the stock traded hands, compared to its average volume of 1,612,490. The firm has a market cap of C$319.90 million, a P/E ratio of -10.88 and a beta of 2.50. The company has a current ratio of 0.71, a quick ratio of 9.02 and a debt-to-equity ratio of 566.20. Volatus Aerospace has a 52-week low of C$0.41 and a 52-week high of C$0.89. The stock’s fifty day simple moving average is C$0.53 and its 200 day simple moving average is C$0.64.

Volatus Aerospace (TSE:FLT) last released its quarterly earnings data on Tuesday, November 10th. The aerospace company reported C($0.01) earnings per share for the quarter. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. The business had revenue of C$10.51 million during the quarter. On average, equities analysts predict that Volatus Aerospace will post -0.01 earnings per share for the current fiscal 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.