Firefly Aerospace (NASDAQ:FLY) Sets New 1-Year Low After Analyst Downgrade

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) hit a new 52-week low during mid-day trading on Thursday after B. Riley Financial lowered their price target on the stock from $50.00 to $40.00. B. Riley Financial currently has a buy rating on the stock. Firefly Aerospace traded as low as $15.26 and last traded at $15.2080, with a volume of 912,787 shares trading hands. The stock had previously closed at $17.16.

A number of other equities analysts have also issued reports on FLY. Barclays began coverage on shares of Firefly Aerospace in a research report on Friday, October 9th. They set an “equal weight” rating and a $34.00 target price on the stock. Wells Fargo & Company initiated coverage on Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target for the company. Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a report on Wednesday, August 12th. Roth Capital reduced their price target on shares of Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Institutional Trading of Firefly Aerospace

Several hedge funds have recently added to or reduced their stakes in FLY. Fulcrum Asset Management LLP acquired a new stake in shares of Firefly Aerospace during the third quarter worth $474,000. J. Derek Lewis & Associates Inc. raised its position in Firefly Aerospace by 64.0% during the third quarter. J. Derek Lewis & Associates Inc. now owns 21,650 shares of the company’s stock valued at $501,000 after purchasing an additional 8,450 shares in the last quarter. Ethic Inc. acquired a new position in shares of Firefly Aerospace during the 3rd quarter worth $1,215,000. Kestra Advisory Services LLC raised its stake in Firefly Aerospace by 147.0% during the third quarter. Kestra Advisory Services LLC now owns 17,910 shares of the company’s stock worth $415,000 after acquiring an additional 10,658 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Firefly Aerospace by 31.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,714 shares of the company’s stock valued at $341,000 after purchasing an additional 3,489 shares during the last quarter.

Firefly Aerospace Stock Performance

The company has a market cap of $2.53 billion, a price-to-earnings ratio of -5.18 and a beta of 0.84. 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 company has a fifty day moving average of $20.48 and a two-hundred day moving average of $26.97.

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

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.