Firefly Aerospace (NASDAQ:FLY) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Firefly Aerospace from “hold” to “sell,” though broader analyst sentiment remains “Moderate Buy,” with seven buys, three holds and one sell rating.
• Analysts’ average price target is $36.82, compared with the stock’s Friday opening price of $20.97; individual targets range from $25 to $50.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and an adjusted loss of $0.42 per share that beat estimates, but it continues to post steep losses with a negative 126.64% net margin.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. B. Riley Financial lowered their price target on 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 reiterated an "overweight" rating and set a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. KeyCorp raised Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price objective on the stock in a report on Monday, June 15th. Finally, Wells Fargo & Company assumed coverage on Firefly Aerospace in a research note on Monday, July 27th. They issued an "equal weight" rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.82.

Firefly Aerospace Stock Performance

FLY opened at $20.97 on Friday. The company has a market cap of $3.51 billion and a P/E ratio of -7.13. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02. The firm's 50-day moving average price is $22.19 and its 200-day moving average price is $29.35. Firefly Aerospace has a 52-week low of $16.00 and a 52-week high of $62.17.

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

Institutional Trading of Firefly Aerospace

A number of hedge funds have recently modified their holdings of FLY. Lisanti Capital Growth LLC acquired a new position in Firefly Aerospace in the 2nd quarter worth about $3,059,000. Quantinno Capital Management LP acquired a new stake in Firefly Aerospace in the first quarter valued at approximately $1,431,000. Royal Bank of Canada increased its position in shares of Firefly Aerospace by 1,803.9% in the first quarter. Royal Bank of Canada now owns 225,782 shares of the company's stock valued at $6,428,000 after buying an additional 213,923 shares in the last quarter. Tema ETFs LLC raised its stake in shares of Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock worth $67,057,000 after buying an additional 2,279,159 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Firefly Aerospace during the 2nd quarter worth approximately $14,280,000.

Firefly Aerospace Company Profile

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.

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