Firefly Aerospace (NASDAQ:FLY) Stock Falls 5.5% – Here’s What Happened

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) traded down 5.5% on Tuesday. The company traded as low as $22.93 and last traded at $22.79. Approximately 1,598,915 shares traded hands during trading, a decline of 68% from the average session volume of 5,059,168 shares. The stock had previously closed at $24.11.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. B. Riley Financial dropped their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. KeyCorp upgraded Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research report on Monday, June 15th. Finally, Roth Capital decreased their target price on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Firefly Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Price Performance

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 firm has a fifty day simple moving average of $22.53 and a two-hundred day simple moving average of $29.53. The firm has a market cap of $3.83 billion and a PE ratio of -7.78.

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

Institutional Trading of Firefly Aerospace

A number of large investors have recently made changes to their positions in FLY. Carlson Financial Inc. raised its position in Firefly Aerospace by 8.8% during the second quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock valued at $241,000 after purchasing an additional 667 shares during the period. KBC Group NV bought a new position in shares of Firefly Aerospace during the 1st quarter valued at approximately $38,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace during the 2nd quarter valued at approximately $56,000. First Trust Advisors LP raised its holdings in Firefly Aerospace by 7.1% during the 1st quarter. First Trust Advisors LP now owns 32,235 shares of the company’s stock valued at $918,000 after buying an additional 2,127 shares during the period. Finally, Parallel Advisors LLC lifted its position in Firefly Aerospace by 398.0% in the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock worth $84,000 after buying an additional 2,360 shares during the last quarter.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.