Volato Group (NYSEAMERICAN:SOAR) Shares Down 6.5% – Here’s What Happened

Volato Group, Inc. (NYSEAMERICAN:SOAR) shares traded down 6.5% during trading on Monday. The stock traded as low as $0.2538 and last traded at $0.2626. Approximately 10,791,904 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 79,852,912 shares. The stock had previously closed at $0.2810.

Volato Group Stock Performance

The stock’s 50 day moving average price is $0.20 and its two-hundred day moving average price is $0.20.

Volato Group (NYSEAMERICAN:SOAR) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.97 million for the quarter. Volato Group had a negative net margin of 11.82% and a negative return on equity of 525.19%.

About Volato Group

Volato Group, Inc is a private aviation company that provides access to business aircraft through fractional ownership, jet card programs, on-demand charter and aircraft management services. Its platform is designed to give customers flexible access to private aviation without requiring them to purchase and operate an entire aircraft.

The company’s offerings include fractional aircraft shares, scheduled and customized private flights, and services for aircraft owners. Volato has been associated with a fleet that includes HondaJet aircraft and other business jets, supporting travel for individuals, families and corporate customers.

Founded in 2021 and headquartered in Atlanta, Georgia, Volato became a publicly traded company through a business combination with PROOF Acquisition Corp I.