Firefly Aerospace (NASDAQ:FLY) Trading Down 8.3% – What’s Next?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) fell 8.3% during mid-day trading on Wednesday . The stock traded as low as $21.43 and last traded at $21.0950. 618,978 shares were traded during trading, a decline of 83% from the average session volume of 3,572,395 shares. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLY. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. The Goldman Sachs Group increased their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Roth Mkm restated a “buy” rating on shares of Firefly Aerospace in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Firefly Aerospace from a “hold” rating to a “buy” rating and reduced their price target for the company from $40.00 to $30.00 in a research report on Thursday, November 13th. Finally, Morgan Stanley set a $33.00 price objective on shares of Firefly Aerospace in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.71.

Firefly Aerospace Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20. The firm has a 50 day moving average of $25.18. The company has a market cap of $3.35 billion and a price-to-earnings ratio of -2.88.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. The firm had revenue of $30.78 million during the quarter, compared to analyst estimates of $28.93 million. Firefly Aerospace’s quarterly revenue was up 37.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Firefly Aerospace in the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Firefly Aerospace in the 4th quarter valued at approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Firefly Aerospace in the third quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. acquired a new position in Firefly Aerospace during the third quarter worth $74,000.

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.