Volatus Aerospace (TSE:FLT) Hits New 52-Week Low Following Analyst Downgrade

Shares of Volatus Aerospace Inc. (TSE:FLT) reached a new 52-week low on Thursday after Desjardins lowered their price target on the stock from C$0.95 to C$0.90. Desjardins currently has a buy rating on the stock. Volatus Aerospace traded as low as C$0.41 and last traded at C$0.42, with a volume of 1,013,208 shares. The stock had previously closed at C$0.42.

Other equities research analysts also recently issued reports about the stock. Ventum Capital lifted their price target on shares of Volatus Aerospace from C$0.95 to C$1.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. ATB Cormark Capital Markets set a C$1.00 price target on Volatus Aerospace and gave the stock a “speculative buy” rating in a research report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$0.93.

Volatus Aerospace Price Performance

The firm’s 50-day moving average price is C$0.53 and its 200 day moving average price is C$0.64. The company has a market capitalization of C$312.54 million, a price-to-earnings ratio of -10.62 and a beta of 2.50. 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 results on Tuesday, November 10th. The aerospace company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$10.51 million for the quarter. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. On average, sell-side analysts forecast that Volatus Aerospace Inc. will post -0.01 EPS for the current fiscal 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.