Firefly Aerospace (NASDAQ:FLY) Stock Gets Price Target Reduction from KeyCorp

Firefly Aerospace (NASDAQ:FLY) had its price target lowered by KeyCorp from $50.00 to $35.00 in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Firefly Aerospace in a report on Wednesday, August 12th. Wall Street Zen cut shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Roth Capital dropped their price objective on shares of Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, B. Riley Financial dropped their price objective on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Firefly Aerospace Trading Up 0.9%

FLY stock opened at $17.16 on Monday. Firefly Aerospace has a 52 week low of $15.99 and a 52 week high of $62.17. The business has a 50-day simple moving average of $20.48 and a 200 day simple moving average of $26.97. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The firm had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The company’s quarterly revenue was up 659.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($5.78) earnings per share. Equities research analysts predict that Firefly Aerospace will post -2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Firefly Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fulcrum Asset Management LLP acquired a new position in shares of Firefly Aerospace during the third quarter worth approximately $474,000. J. Derek Lewis & Associates Inc. grew its holdings in shares of Firefly Aerospace by 64.0% during the third quarter. J. Derek Lewis & Associates Inc. now owns 21,650 shares of the company’s stock valued at $501,000 after buying an additional 8,450 shares during the last quarter. Ethic Inc. bought a new stake in shares of Firefly Aerospace during the third quarter worth about $1,215,000. Kestra Advisory Services LLC increased its position in shares of Firefly Aerospace by 147.0% during the third quarter. Kestra Advisory Services LLC now owns 17,910 shares of the company’s stock worth $415,000 after acquiring an additional 10,658 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Firefly Aerospace by 31.1% during the third quarter. Commonwealth Equity Services LLC now owns 14,714 shares of the company’s stock worth $341,000 after acquiring an additional 3,489 shares in the last quarter.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.