Firefly Aerospace (NASDAQ:FLY) Sets New 1-Year Low – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price reached a new 52-week low on Thursday. The company traded as low as $15.99 and last traded at $16.6520, with a volume of 740,241 shares. The stock had previously closed at $17.02.

Wall Street Analyst Weigh In

FLY has been the topic of several recent research reports. Wall Street Zen lowered shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. B. Riley Financial reduced their price objective on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Roth Capital lowered their target price on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Firefly Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.58.

Firefly Aerospace Stock Down 6.1%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. The business’s 50 day moving average price is $22.35 and its 200 day moving average price is $29.17. The firm has a market cap of $2.80 billion, a PE ratio of -5.70 and a beta of 0.59.

Firefly Aerospace (NASDAQ:FLY) last issued its earnings results on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. The business had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. Firefly Aerospace’s quarterly revenue was up 659.2% on a year-over-year basis. During the same quarter last year, the company earned ($5.78) earnings per share. On average, equities research analysts expect that Firefly Aerospace, Inc. will post -2.31 earnings per share for the current year.

Hedge Funds Weigh In On Firefly Aerospace

A number of hedge funds have recently made changes to their positions in FLY. KBC Group NV acquired a new stake in shares of Firefly Aerospace during the first quarter worth about $38,000. Integrated Wealth Concepts LLC purchased a new position in shares of Firefly Aerospace in the second quarter valued at approximately $56,000. Parallel Advisors LLC grew its holdings in shares of Firefly Aerospace by 398.0% in the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after purchasing an additional 2,360 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Firefly Aerospace in the second quarter valued at approximately $103,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Firefly Aerospace during the 4th quarter worth approximately $136,000.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.

Firefly’s primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.