Volatus Aerospace (TSE:FLT) Posts Quarterly Earnings Results

Volatus Aerospace (TSE:FLT) released its earnings results on Tuesday. The aerospace company reported C($0.01) earnings per share (EPS) for the quarter, FiscalAI reports. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. The firm had revenue of C$10.51 million during the quarter.

Volatus Aerospace Trading Up 3.5%

Volatus Aerospace stock traded up C$0.01 during trading hours on Thursday, hitting C$0.44. The company had a trading volume of 748,144 shares, compared to its average volume of 1,611,276. The company has a debt-to-equity ratio of 566.20, a quick ratio of 9.02 and a current ratio of 0.71. The firm has a market cap of C$323.57 million, a P/E ratio of -11.00 and a beta of 2.50. The company has a 50-day moving average price of C$0.53 and a two-hundred day moving average price of C$0.64. Volatus Aerospace has a 1 year low of C$0.41 and a 1 year high of C$0.89.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLT. ATB Cormark Capital Markets set a C$1.00 price objective on shares of Volatus Aerospace and gave the stock a “speculative buy” rating in a research note on Wednesday, October 21st. Ventum Capital boosted their price objective on Volatus Aerospace from C$0.95 to C$1.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, Desjardins upped their price objective on Volatus Aerospace from C$0.90 to C$0.95 and gave the company a “buy” rating in a research report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$0.94.

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.