Firefly Aerospace (NASDAQ:FLY) Stock Price Down 11.7% – What’s Next?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) fell 11.7% on Friday . The company traded as low as $34.69 and last traded at $34.7460. 2,569,833 shares changed hands during trading, a decline of 55% from the average session volume of 5,758,964 shares. The stock had previously closed at $39.37.

Wall Street Analyst Weigh In

FLY has been the subject of a number of research reports. UBS Group set a $33.00 price objective on Firefly Aerospace in a research report on Thursday, March 12th. Roth Mkm boosted their price objective on Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $35.00 price target on shares of Firefly Aerospace in a research note on Tuesday, May 5th. Cantor Fitzgerald lowered their price objective on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Finally, Morgan Stanley upped their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.33.

Firefly Aerospace Price Performance

The firm has a market cap of $5.20 billion and a price-to-earnings ratio of -3.99. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $39.73 and a 200 day moving average of $29.14.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($5.09) earnings per share. Equities research analysts predict that Firefly Aerospace, Inc. will post -1.95 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $45.12, for a total transaction of $169,876.80. Following the completion of the sale, the general counsel owned 142,758 shares in the company, valued at $6,441,240.96. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Firefly Aerospace

Several large investors have recently bought and sold shares of FLY. SBI Securities Co. Ltd. bought a new stake in shares of Firefly Aerospace in the third quarter worth $74,000. JPMorgan Chase & Co. bought a new stake in Firefly Aerospace during the third quarter valued at $19,471,000. Vanguard Group Inc. bought a new position in shares of Firefly Aerospace during the 3rd quarter worth about $53,409,000. AE Industrial Partners LP bought a new position in shares of Firefly Aerospace during the 3rd quarter worth about $1,063,863,000. Finally, TD Asset Management Inc bought a new position in shares of Firefly Aerospace during the 3rd quarter worth about $4,353,000.

About Firefly Aerospace

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.