Volatus Aerospace (TSE:FLT) Shares Down 3.8% – Here’s Why

Volatus Aerospace Inc. (TSE:FLT)’s stock price dropped 3.8% during trading on Friday . The stock traded as low as C$0.49 and last traded at C$0.50. Approximately 1,064,501 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,726,614 shares. The stock had previously closed at C$0.52.

Volatus Aerospace Price Performance

The company has a market capitalization of C$367.70 million, a P/E ratio of -12.50 and a beta of 2.93. The company’s 50-day moving average price is C$0.52 and its two-hundred day moving average price is C$0.68. The company has a debt-to-equity ratio of 566.20, a current ratio of 0.71 and a quick ratio of 9.02.

Volatus Aerospace (TSE:FLT) last announced its earnings results on Thursday, August 13th. The aerospace company reported C($0.01) EPS for the quarter. The company had revenue of C$8.42 million for the quarter. Volatus Aerospace had a negative return on equity of 115.14% and a negative net margin of 27.14%. As a group, sell-side analysts expect that Volatus Aerospace Inc. will post -0.01 EPS 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.