Volatus Aerospace (TSE:FLT) Shares Up 8.7% – Time to Buy?

Volatus Aerospace Inc. (TSE:FLT) rose 8.7% during trading on Tuesday . The stock traded as high as C$0.77 and last traded at C$0.75. Approximately 3,242,789 shares traded hands during trading, an increase of 61% from the average daily volume of 2,018,653 shares. The stock had previously closed at C$0.69.

Wall Street Analyst Weigh In

Separately, Haywood Securities set a C$0.90 target price on Volatus Aerospace and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of C$0.88.

Volatus Aerospace Stock Down 8.3%

The company has a current ratio of 0.71, a quick ratio of 9.02 and a debt-to-equity ratio of 566.20. The business has a fifty day moving average of C$0.85 and a two-hundred day moving average of C$0.70. The company has a market cap of C$446.58 million, a price-to-earnings ratio of -16.50 and a beta of 3.01.

Volatus Aerospace (TSE:FLT) last announced its earnings results on Tuesday, March 31st. The aerospace company reported C($0.01) earnings per share (EPS) for the quarter. The company had revenue of C$7.30 million during the quarter. Volatus Aerospace had a negative net margin of 27.14% and a negative return on equity of 115.14%. 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.