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

Firefly Aerospace (NASDAQ:FLY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other analysts have also commented on FLY. KeyCorp cut their price target on Firefly Aerospace from $50.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, November 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Jefferies Financial Group dropped their price objective on shares of Firefly Aerospace from $35.00 to $30.00 and set a "buy" rating for the company in a report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Finally, B. Riley Financial lifted their target price on shares of Firefly Aerospace from $40.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.33.

Firefly Aerospace Price Performance

Shares of FLY traded down $0.10 during trading hours on Friday, reaching $25.21. The stock had a trading volume of 3,391,121 shares, compared to its average volume of 4,058,145. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.29. Firefly Aerospace has a 12 month low of $14.44 and a 12 month high of $62.17. The stock has a market capitalization of $4.33 billion, a PE ratio of -12.61 and a beta of 0.84. The company's 50-day moving average is $20.71 and its two-hundred day moving average is $26.73.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.45) earnings per share 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 business had revenue of $110.68 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter in the previous year, the company posted ($0.33) EPS. Firefly Aerospace's quarterly revenue was up 259.4% compared to the same quarter last year. Research analysts expect that Firefly Aerospace will post -2.31 EPS for the current year.

Hedge Funds Weigh In On Firefly Aerospace

Hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new stake in Firefly Aerospace during the first quarter valued at $38,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace in the 2nd quarter worth about $56,000. Sterling Capital Management LLC raised its position in shares of Firefly Aerospace by 848.9% in 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 in the last quarter. Allworth Financial LP lifted its stake in shares of Firefly Aerospace by 1,681.6% in the 3rd quarter. Allworth Financial LP now owns 3,581 shares of the company's stock valued at $83,000 after purchasing an additional 3,380 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,360 shares during the period.

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.

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