Volatus Aerospace (TSE:FLT) Stock Price Target Cut by Desjardins

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

Other equities analysts also recently issued reports about the stock. 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 boosted their target price 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 investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$0.93.

Volatus Aerospace Price Performance

FLT traded up C$0.01 during trading hours on Thursday, hitting C$0.43. The company’s stock had a trading volume of 921,572 shares, compared to its average volume of 1,612,490. Volatus Aerospace has a 12 month low of C$0.41 and a 12 month high of C$0.89. The stock has a market cap of C$319.90 million, a price-to-earnings ratio of -10.88 and a beta of 2.50. The business’s 50-day moving average price is C$0.53 and its 200-day moving average price is C$0.64. 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 (TSE:FLT) last posted its earnings results 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. Sell-side analysts expect that Volatus Aerospace will post -0.01 earnings per share 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.