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

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price traded down 11.7% during trading on Friday . The stock traded as low as $34.69 and last traded at $34.7460. 2,569,833 shares were traded during mid-day trading, a decline of 55% from the average session volume of 5,758,964 shares. The stock had previously closed at $39.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on FLY. Weiss Ratings lowered shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. B. Riley Financial assumed coverage on shares of Firefly Aerospace in a report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 price target for the company. Wall Street Zen raised shares of Firefly Aerospace from a “strong sell” rating to a “sell” rating in a report on Sunday, June 7th. Cantor Fitzgerald lowered their price objective on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Finally, Roth Mkm raised their price objective on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.33.

Firefly Aerospace Price Performance

The business’s 50 day moving average price is $39.73 and its two-hundred day moving average price is $29.14. The stock has a market cap of $5.20 billion and a P/E 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.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The firm had revenue of $80.88 million for the quarter. During the same period in the previous year, the firm posted ($5.09) EPS. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. As a group, sell-side analysts expect that Firefly Aerospace, Inc. will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FLY. AE Industrial Partners LP purchased a new position in shares of Firefly Aerospace during the third quarter valued at approximately $1,063,863,000. Vanguard Group Inc. purchased a new position in shares of Firefly Aerospace during the third quarter valued at approximately $53,409,000. Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace during the third quarter valued at approximately $50,711,000. UBS Group AG raised 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 purchasing an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Firefly Aerospace during the third quarter valued at approximately $35,337,000.

Firefly Aerospace Company Profile

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.