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

Volatus Aerospace Inc. (TSE:FLT)’s share price shot up 7.4% during trading on Thursday . The stock traded as high as C$0.61 and last traded at C$0.58. 2,286,190 shares were traded during trading, an increase of 33% from the average session volume of 1,719,130 shares. The stock had previously closed at C$0.54.

Volatus Aerospace Price Performance

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

Volatus Aerospace (TSE:FLT) last announced its earnings results on Thursday, August 13th. The aerospace company reported C($0.01) earnings per share (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%. On average, sell-side analysts predict that Volatus Aerospace Inc. 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.