Volatus Aerospace (TSE:FLT) Stock Price Down 7.5% – Should You Sell?

Volatus Aerospace Inc. (TSE:FLT) was down 7.5% during trading on Wednesday. The stock traded as low as C$0.49 and last traded at C$0.49. Approximately 2,144,014 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 1,683,603 shares. The stock had previously closed at C$0.53.

Analyst Upgrades and Downgrades

Separately, Desjardins set a C$0.90 target price on shares of Volatus Aerospace and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus target price of C$0.88.

Volatus Aerospace Trading Down 7.5%

The firm has a 50-day moving average price of C$0.55 and a 200-day moving average price of C$0.64. The stock has a market cap of C$360.34 million, a PE ratio of -12.25 and a beta of 2.67. The company has a debt-to-equity ratio of 566.20, a quick ratio of 9.02 and a current ratio of 0.71.

Volatus Aerospace (TSE:FLT) last posted its quarterly 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 for the quarter. As a group, equities analysts anticipate that Volatus Aerospace Inc. will post -0.01 EPS for the current fiscal year.

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.

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