Volatus Aerospace (TSE:FLT) Price Target Raised to C$0.95

Volatus Aerospace (TSE:FLT) had its price target boosted by Desjardins from C$0.90 to C$0.95 in a report released on Thursday morning,BayStreet reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Volatus Aerospace Stock Performance

Shares of FLT opened at C$0.50 on Thursday. Volatus Aerospace has a one year low of C$0.45 and a one year high of C$0.89. The company has a market cap of C$364.89 million, a PE ratio of -12.50 and a beta of 2.67. The stock has a 50-day moving average of C$0.55 and a 200-day moving average of C$0.64. The company has a debt-to-equity ratio of 566.20, a current ratio of 0.71 and a quick ratio of 9.02.

Volatus Aerospace (TSE:FLT) last issued its earnings results on Thursday, August 13th. 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$8.42 million during the quarter. On average, equities research analysts predict that Volatus Aerospace will post -0.01 EPS for the current fiscal 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.

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