Firefly Aerospace (NASDAQ:FLY) Shares Gap Down – Here’s What Happened

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $29.76, but opened at $27.56. Firefly Aerospace shares last traded at $30.4990, with a volume of 845,246 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on FLY. Weiss Ratings reaffirmed 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 stock a “neutral” rating in a report on Tuesday, January 20th. Cantor Fitzgerald dropped their target price on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. UBS Group set a $33.00 price objective on shares of Firefly Aerospace in a research note on Thursday, March 12th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.13.

Firefly Aerospace Price 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 firm’s fifty day moving average price is $23.24 and its two-hundred day moving average price is $25.24. The stock has a market capitalization of $5.13 billion and a PE ratio of -3.47.

Firefly Aerospace (NASDAQ:FLY) last posted its earnings results on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The firm’s revenue was up 541.1% on a year-over-year basis.

Institutional Trading of Firefly Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new position in Firefly Aerospace in the fourth quarter worth approximately $136,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Firefly Aerospace by 140.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 28,689 shares of the company’s stock worth $642,000 after purchasing an additional 16,745 shares in the last quarter. Virtu Financial LLC raised its holdings in Firefly Aerospace by 104.0% in the 4th quarter. Virtu Financial LLC now owns 14,824 shares of the company’s stock worth $332,000 after purchasing an additional 7,556 shares during the period. Invesco Ltd. bought a new position in Firefly Aerospace in the 4th quarter worth $11,607,000. Finally, VARCOV Co. purchased a new position in Firefly Aerospace during the fourth quarter valued at $262,000.

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.