Volatus Aerospace (TSE:FLT) Price Target Raised to C$1.00

Volatus Aerospace (TSE:FLT) had its price target boosted by Ventum Capital from C$0.95 to C$1.00 in a report published on Thursday morning,BayStreet reports. They currently have a buy rating on the aerospace company’s stock.

Separately, Desjardins increased their target price on Volatus Aerospace from C$0.90 to C$0.95 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$0.92.

Volatus Aerospace Stock Performance

Shares of FLT stock opened at C$0.50 on Thursday. The stock has a market capitalization of C$364.89 million, a P/E ratio of -12.50 and a beta of 2.67. 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 firm’s 50 day moving average is C$0.55 and its 200 day moving average is C$0.64. Volatus Aerospace has a 12 month low of C$0.45 and a 12 month high of C$0.89.

Volatus Aerospace (TSE:FLT) last released its quarterly earnings data on Thursday, August 13th. The aerospace company reported C($0.01) earnings per share for the quarter. Volatus Aerospace had a negative net margin of 27.14% and a negative return on equity of 115.14%. The business had revenue of C$8.42 million during the quarter. On average, sell-side analysts anticipate that Volatus Aerospace will post -0.01 earnings per share for the current year.

About Volatus Aerospace

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.