Volatus Aerospace (TSE:FLT) Hits New 52-Week Low Following Analyst Downgrade

Volatus Aerospace Inc. (TSE:FLT) shares hit a new 52-week low during mid-day trading on Thursday after Desjardins lowered their price target on the stock from C$0.95 to C$0.90. Desjardins currently has a buy rating on the stock. Volatus Aerospace traded as low as C$0.41 and last traded at C$0.42, with a volume of 1,013,208 shares changing hands. The stock had previously closed at C$0.42.

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

Volatus Aerospace Stock Performance

The business’s 50 day simple moving average is C$0.53 and its two-hundred day simple moving average is C$0.64. The stock has a market cap of C$312.54 million, a P/E ratio of -10.62 and a beta of 2.50. The company has a quick ratio of 9.02, a current ratio of 0.71 and a debt-to-equity ratio of 566.20.

Volatus Aerospace (TSE:FLT) last announced its quarterly earnings results on Tuesday, November 10th. The aerospace company reported C($0.01) EPS for the quarter. Volatus Aerospace had a negative net margin of 27.14% and a negative return on equity of 115.14%. The firm had revenue of C$10.51 million during the quarter. As a group, analysts expect that Volatus Aerospace Inc. will post -0.01 EPS for the current year.

About Volatus Aerospace

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.