Firefly Aerospace (NASDAQ:FLY) Shares Down 13.5% – Time to Sell?

Firefly Aerospace, Inc. (NASDAQ:FLY) traded down 13.5% during trading on Thursday . The stock traded as low as $19.41 and last traded at $19.4550. 1,065,228 shares were traded during mid-day trading, a decline of 40% from the average session volume of 1,767,241 shares. The stock had previously closed at $22.50.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $55.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued a “neutral” rating and a $54.00 price target on the stock. Roth Capital set a $40.00 price target on shares of Firefly Aerospace in a report on Tuesday, September 30th. Zacks Research raised shares of Firefly Aerospace to a “hold” rating in a research report on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.29.

Firefly Aerospace Trading Down 13.2%

The business has a fifty day simple moving average of $34.49.

Firefly Aerospace (NASDAQ:FLY) last posted its earnings results on Monday, September 22nd. The company reported ($5.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($5.36). The business had revenue of $15.55 million during the quarter, compared to the consensus estimate of $15.19 million. Firefly Aerospace has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Firefly Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Firefly Aerospace during the third quarter valued at about $74,000. Penserra Capital Management LLC bought a new stake in shares of Firefly Aerospace during the third quarter valued at about $3,699,000. WCM Investment Management LLC bought a new stake in shares of Firefly Aerospace during the third quarter valued at about $19,386,000. Phoenix Financial Ltd. bought a new stake in shares of Firefly Aerospace during the third quarter valued at about $14,468,000. Finally, LBP AM SA bought a new stake in shares of Firefly Aerospace during the third quarter valued at about $1,795,000.

Firefly Aerospace Company Profile

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.