Volatus Aerospace (TSE:FLT) Trading Down 1.5% – Here’s What Happened

Shares of Volatus Aerospace Inc. (TSE:FLT) traded down 1.5% during mid-day trading on Tuesday . The stock traded as low as C$0.64 and last traded at C$0.67. 1,719,574 shares were traded during trading, a decline of 16% from the average session volume of 2,043,896 shares. The stock had previously closed at C$0.68.

Analysts Set New Price Targets

Separately, Haywood Securities set a C$0.90 price target on Volatus Aerospace and gave the company a “buy” rating in a research report 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. Based on data from MarketBeat.com, Volatus Aerospace currently has an average rating of “Strong Buy” and a consensus price target of C$0.88.

Volatus Aerospace Stock Performance

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 has a market capitalization of C$433.05 million, a price-to-earnings ratio of -16.00 and a beta of 3.01. The company has a 50-day moving average of C$0.86 and a 200-day moving average of C$0.70.

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.