Firefly Aerospace (NASDAQ:FLY) Trading Down 6.3% – What’s Next?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) traded down 6.3% during trading on Wednesday . The company traded as low as $39.22 and last traded at $39.4430. 4,935,993 shares were traded during trading, an increase of 2% from the average session volume of 4,860,027 shares. The stock had previously closed at $42.09.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Roth Mkm lifted their price target on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Wall Street Zen upgraded Firefly Aerospace from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group upped their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday. Finally, UBS Group set a $33.00 price objective on shares of Firefly Aerospace in a research report on Thursday, March 12th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Firefly Aerospace Stock Performance

The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $25.14. The stock has a market capitalization of $6.44 billion and a price-to-earnings ratio of -4.39.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.10. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The firm had revenue of $57.67 million for the quarter. Firefly Aerospace’s revenue was up 541.1% compared to the same quarter last year. As a group, equities research analysts expect that Firefly Aerospace, Inc. will post -1.8 EPS for the current fiscal year.

Insider Transactions at Firefly Aerospace

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.04, for a total value of $169,620.64. Following the transaction, the general counsel directly owned 142,758 shares of the company’s stock, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the company. AE Industrial Partners LP bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $1,063,863,000. Vanguard Group Inc. bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $53,409,000. Hudson Bay Capital Management LP bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $50,711,000. UBS Group AG increased its holdings in shares of Firefly Aerospace by 233.6% during the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after acquiring an additional 1,241,987 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $35,337,000.

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.