Volatus Aerospace (TSE:FLT) Shares Up 7.4% – Here’s What Happened

Volatus Aerospace Inc. (TSE:FLT) shares were up 7.4% on Thursday . The stock traded as high as C$0.61 and last traded at C$0.58. Approximately 2,286,190 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 1,719,130 shares. The stock had previously closed at C$0.54.

Volatus Aerospace Price Performance

The company has a debt-to-equity ratio of 566.20, a quick ratio of 9.02 and a current ratio of 0.71. The stock has a 50-day simple moving average of C$0.52 and a 200 day simple moving average of C$0.68. The company has a market cap of C$426.53 million, a P/E ratio of -14.50 and a beta of 2.93.

Volatus Aerospace (TSE:FLT) last announced its quarterly earnings data on Thursday, August 13th. The aerospace company reported C($0.01) earnings per share (EPS) 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, equities analysts expect that Volatus Aerospace Inc. will post -0.01 EPS for the current year.

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.