Volatus Aerospace (TSE:FLT) Releases Earnings Results

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

Volatus Aerospace Stock Up 2.4%

TSE:FLT traded up C$0.01 during trading hours on Thursday, reaching C$0.43. The company’s stock had a trading volume of 733,022 shares, compared to its average volume of 1,611,273. The company has a market capitalization of C$319.90 million, a P/E ratio of -10.88 and a beta of 2.50. Volatus Aerospace has a 12 month low of C$0.41 and a 12 month high of C$0.89. 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 stock has a 50 day moving average price of C$0.53 and a two-hundred day moving average price of C$0.64.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Desjardins boosted their price target on Volatus Aerospace from C$0.90 to C$0.95 and gave the company a “buy” rating in a report on Thursday, October 15th. ATB Cormark Capital Markets set a C$1.00 price objective on Volatus Aerospace and gave the stock a “speculative buy” rating in a report on Wednesday, October 21st. Finally, Ventum Capital lifted their target price on Volatus Aerospace from C$0.95 to C$1.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, 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.