Firefly Aerospace (NASDAQ:FLY) Stock Price Down 6.3% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price fell 6.3% during trading on Tuesday . The stock traded as low as $32.20 and last traded at $32.6560. 1,891,347 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 4,301,418 shares. The stock had previously closed at $34.85.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLY. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research note on Thursday, March 12th. The Goldman Sachs Group upped their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Morgan Stanley reissued a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Finally, KeyCorp began coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.13.

Firefly Aerospace Trading Up 2.1%

The firm has a market cap of $5.69 billion and a P/E ratio of -3.86. The business’s 50-day moving average is $23.55 and its two-hundred day moving average is $24.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 4.51.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating 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 quarterly revenue was up 541.1% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Firefly Aerospace in the third quarter valued at $26,000. CIBC Private Wealth Group LLC acquired a new stake in Firefly Aerospace in the third quarter valued at $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth about $30,000. Russell Investments Group Ltd. acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth about $38,000. Finally, NBC Securities Inc. acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth about $38,000.

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.