Firefly Aerospace (NASDAQ:FLY) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Firefly Aerospace (NASDAQ:FLY) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Firefly Aerospace in a research note on Wednesday, August 12th. B. Riley Financial cut their price target 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. KeyCorp raised shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Monday, June 15th. Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group set a $35.00 target price on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Firefly Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Price Performance

NASDAQ:FLY opened at $20.97 on Friday. Firefly Aerospace has a 52-week low of $16.00 and a 52-week high of $62.17. The stock has a fifty day moving average of $22.19 and a 200 day moving average of $29.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $3.51 billion and a price-to-earnings ratio of -7.13.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Carlson Financial Inc. lifted its holdings in shares of Firefly Aerospace by 8.8% in the 2nd quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock worth $241,000 after acquiring an additional 667 shares during the last quarter. KBC Group NV bought a new position in shares of Firefly Aerospace during the 1st quarter valued at $38,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace during the 2nd quarter valued at $56,000. First Trust Advisors LP raised its position in Firefly Aerospace by 7.1% in the 1st quarter. First Trust Advisors LP now owns 32,235 shares of the company’s stock worth $918,000 after purchasing an additional 2,127 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Firefly Aerospace by 398.0% in the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock worth $84,000 after purchasing an additional 2,360 shares during the last quarter.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.