Firefly Aerospace (NASDAQ:FLY) Shares Gap Down – Time to Sell?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares gapped down prior to trading on Thursday . The stock had previously closed at $29.76, but opened at $27.56. Firefly Aerospace shares last traded at $30.4990, with a volume of 845,246 shares traded.

Wall Street Analyst Weigh In

FLY has been the subject of a number of recent research reports. KeyCorp initiated coverage on Firefly Aerospace in a research note on Thursday, December 18th. They set a “sector weight” rating for the company. Cantor Fitzgerald decreased their target price on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Morgan Stanley reiterated a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. The Goldman Sachs Group increased their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.13.

Firefly Aerospace Price Performance

The firm has a 50 day moving average of $23.24 and a 200-day moving average of $25.24. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.24. The company has a market cap of $5.13 billion and a P/E ratio of -3.47.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The firm’s quarterly revenue was up 541.1% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC bought a new stake in Firefly Aerospace in the 3rd quarter worth approximately $19,386,000. TD Asset Management Inc bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at approximately $4,353,000. Liontrust Investment Partners LLP purchased a new position in shares of Firefly Aerospace in the third quarter valued at $1,790,000. Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace in the third quarter valued at $50,711,000. Finally, Phoenix Financial Ltd. bought a new stake in Firefly Aerospace in the third quarter worth $14,468,000.

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.