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

Volatus Aerospace Inc. (TSE:FLT)’s share price dropped 7.5% on Wednesday. The stock traded as low as C$0.49 and last traded at C$0.49. Approximately 2,144,014 shares changed hands during trading, an increase of 27% from the average daily volume of 1,683,603 shares. The stock had previously closed at C$0.53.

Analysts Set New Price Targets

Separately, Desjardins set a C$0.90 price target on 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 presently has an average rating of “Strong Buy” and an average target price of C$0.88.

Volatus Aerospace Stock Performance

The stock has a market capitalization of C$360.34 million, a P/E ratio of -12.25 and a beta of 2.67. The company’s fifty day simple moving average is C$0.55 and its 200 day simple moving average 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 issued its quarterly earnings data on Thursday, August 13th. The aerospace company reported C($0.01) EPS for the quarter. The business had revenue of C$8.42 million for the quarter. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. As a group, sell-side analysts forecast that Volatus Aerospace Inc. will post -0.01 earnings per share 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.