Firefly Aerospace (NASDAQ:FLY) Price Target Cut to $30.00 by Analysts at Jefferies Financial Group

Firefly Aerospace (NASDAQ:FLY) had its target price decreased by research analysts at Jefferies Financial Group from $35.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group‘s price target points to a potential upside of 18.77% from the company’s previous close.

Several other analysts have also recently weighed in on FLY. Wall Street Zen raised Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. KeyCorp decreased their price objective on Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. B. Riley Financial increased their price objective on Firefly Aerospace from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company started coverage on Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Firefly Aerospace Stock Performance

Firefly Aerospace stock traded down $0.05 during trading hours on Friday, hitting $25.26. The company had a trading volume of 1,964,729 shares, compared to its average volume of 4,876,016. The firm has a market cap of $4.34 billion, a PE ratio of -12.67 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.73. Firefly Aerospace has a one year low of $14.44 and a one year high of $62.17. The firm has a 50-day moving average of $20.63 and a 200 day moving average of $26.76.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. Firefly Aerospace had a negative return on equity of 24.96% and a negative net margin of 88.37%. The company had revenue of $110.68 million during the quarter, compared to analysts’ expectations of $106.40 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The business’s revenue was up 259.4% on a year-over-year basis. On average, sell-side analysts expect that Firefly Aerospace will post -2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new stake in shares of Firefly Aerospace in the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in Firefly Aerospace during the second quarter worth approximately $56,000. Sterling Capital Management LLC increased its stake in Firefly Aerospace by 848.9% during the 3rd quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock worth $62,000 after acquiring an additional 2,377 shares during the period. Allworth Financial LP increased its stake in Firefly Aerospace by 1,681.6% during the 3rd quarter. Allworth Financial LP now owns 3,581 shares of the company’s stock worth $83,000 after acquiring an additional 3,380 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after acquiring an additional 2,360 shares in the last quarter.

Firefly Aerospace Company Profile

Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.