Firefly Aerospace (NASDAQ:FLY) Shares Down 4.1% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price fell 4.1% on Monday . The company traded as low as $21.53 and last traded at $22.2720. 2,000,809 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 3,679,229 shares. The stock had previously closed at $23.22.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Roth Mkm restated a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. The Goldman Sachs Group increased their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Firefly Aerospace currently has an average rating of “Moderate Buy” and an average target price of $38.88.

Firefly Aerospace Trading Up 1.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20. The business’s 50 day moving average price is $23.97 and its 200-day moving average price is $26.08. The firm has a market cap of $3.77 billion and a price-to-earnings ratio of -2.59.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. The firm had revenue of $57.67 million during the quarter. Firefly Aerospace’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Hedge Funds Weigh In On Firefly Aerospace

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace during the third quarter valued at $26,000. CIBC Private Wealth Group LLC acquired a new position in shares of Firefly Aerospace in the 3rd quarter valued at about $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace during the 4th quarter valued at about $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace during the 4th quarter valued at about $38,000. Finally, Russell Investments Group Ltd. acquired a new stake in Firefly Aerospace during the fourth quarter worth about $38,000.

Firefly Aerospace Company Profile

Firefly Aerospace (NASDAQ:FLY) is a U.S.-based aerospace company that designs, manufactures and operates launch vehicles and in-space systems for commercial, civil and national security customers. The company focuses on providing end-to-end small- and medium-lift launch services, mission integration and spacecraft hardware to support satellite deployment and on-orbit operations.

Firefly’s product portfolio includes the Alpha small launch vehicle, developed to carry small satellites to low Earth orbit, and plans for larger vehicles and in-space capabilities to address a range of payload sizes and mission profiles.