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

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

Several other brokerages have also issued reports on FLY. Roth Mkm increased their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Jefferies Financial Group upped their price objective on shares of Firefly Aerospace from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, April 13th. Weiss Ratings cut shares of Firefly Aerospace from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $35.00 target price on shares of Firefly Aerospace in a research note on Tuesday. Finally, Cantor Fitzgerald decreased their target price on Firefly Aerospace from $65.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, March 26th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.56.

Firefly Aerospace Price Performance

Shares of FLY opened at $39.68 on Friday. The firm has a market cap of $6.36 billion and a PE ratio of -4.87. Firefly Aerospace has a 52-week low of $16.00 and a 52-week high of $73.80. The business's 50 day moving average price is $29.66 and its two-hundred day moving average price is $25.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.51 and a current ratio of 2.53.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The business's quarterly revenue was up 44.8% compared to the same quarter last year. During the same period last year, the business earned ($5.09) EPS. On average, equities analysts anticipate that Firefly Aerospace will post -1.83 EPS for the current year.

Insiders Place Their Bets

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the transaction, the general counsel owned 142,758 shares in the company, valued at approximately $6,429,820.32. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.50% of the company's stock.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Resolute Advisors LLC raised its holdings in shares of Firefly Aerospace by 70.1% in the 1st quarter. Resolute Advisors LLC now owns 18,200 shares of the company's stock worth $518,000 after acquiring an additional 7,500 shares during the last quarter. Parallel Advisors LLC boosted its stake in Firefly Aerospace by 398.0% during 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 last quarter. KBC Group NV bought a new stake in Firefly Aerospace during the 1st quarter worth approximately $38,000. Swiss National Bank bought a new stake in Firefly Aerospace during the 1st quarter worth approximately $1,794,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Firefly Aerospace by 30.7% in the first quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company's stock worth $2,186,000 after purchasing an additional 18,022 shares during the last quarter.

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.

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