Firefly Aerospace (NASDAQ:FLY) Trading Down 5.6% – What’s Next?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) fell 5.6% on Thursday . The stock traded as low as $40.90 and last traded at $41.5520. 1,077,316 shares were traded during trading, a decline of 79% from the average session volume of 5,122,534 shares. The stock had previously closed at $44.00.

Wall Street Analyst Weigh In

FLY has been the subject of several research reports. B. Riley Financial initiated coverage on Firefly Aerospace in a research report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 target price for the company. Roth Mkm increased their target price on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. The Goldman Sachs Group increased their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Cantor Fitzgerald dropped their target price on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.56.

Firefly Aerospace Trading Down 3.7%

The company has a market cap of $6.79 billion and a price-to-earnings ratio of -5.18. The firm has a 50 day moving average price of $33.36 and a two-hundred day moving average price of $26.49. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The company’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the company posted ($5.09) EPS. As a group, equities analysts forecast that Firefly Aerospace, Inc. will post -1.81 earnings per share for the current year.

Insider Buying and Selling at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $45.12, for a total value of $169,876.80. Following the completion of the sale, the general counsel owned 142,758 shares of the company’s stock, 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 the SEC website. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in Firefly Aerospace by 55.8% during the first quarter. Bank of America Corp DE now owns 299,042 shares of the company’s stock worth $8,514,000 after purchasing an additional 107,080 shares during the period. Janus Henderson Group PLC acquired a new stake in Firefly Aerospace during the first quarter worth approximately $503,000. California State Teachers Retirement System grew its stake in Firefly Aerospace by 2,259.2% during the first quarter. California State Teachers Retirement System now owns 31,189 shares of the company’s stock worth $888,000 after purchasing an additional 29,867 shares during the period. Royal Bank of Canada grew its stake in Firefly Aerospace by 1,803.9% during the first quarter. Royal Bank of Canada now owns 225,782 shares of the company’s stock worth $6,428,000 after purchasing an additional 213,923 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Firefly Aerospace during the first quarter worth approximately $906,000.

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.