Firefly Aerospace (NASDAQ:FLY) Shares Down 8.3% - Time to Sell?

Key Points

• Firefly Aerospace shares fell 8.3% to about $23.20, with trading volume roughly 81% below the average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $36.82 target price, although individual targets range from $25 to $45 and ratings include equal weight and sell calls.
• The company beat quarterly EPS expectations, reporting a $0.42 loss versus the expected $0.50 loss, while revenue surged 659.2% year over year to $117.68 million. However, Firefly remains unprofitable, with a negative net margin and analysts forecasting a full-year loss.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report)'s stock price dropped 8.3% on Thursday . The company traded as low as $23.12 and last traded at $23.2040. Approximately 1,029,731 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 5,438,244 shares. The stock had previously closed at $25.30.

Wall Street Analyst Weigh In

FLY has been the subject of several research analyst reports. Wells Fargo & Company began coverage on Firefly Aerospace in a research report on Monday, July 27th. They issued an "equal weight" rating and a $25.00 price objective for the company. Roth Capital decreased their target price on shares of Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Firefly Aerospace from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $35.00 target price on shares of Firefly Aerospace in a report on Tuesday, May 5th. Finally, Morgan Stanley increased their price target on Firefly Aerospace from $33.00 to $37.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Firefly Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

Firefly Aerospace Price Performance

The stock has a market capitalization of $3.88 billion and a price-to-earnings ratio of -7.88. The company's 50-day simple moving average is $25.30 and its 200-day simple moving average is $29.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.08. The company had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.Firefly Aerospace's revenue for the quarter was up 659.2% on a year-over-year basis. During the same quarter last year, the business posted ($5.78) EPS. Research analysts forecast that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Firefly Aerospace

Several institutional investors and hedge funds have recently modified their holdings of FLY. UBS Group AG grew its position in shares of Firefly Aerospace by 233.6% during the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company's stock worth $39,676,000 after purchasing an additional 1,241,987 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Firefly Aerospace in the first quarter valued at approximately $1,431,000. Huntleigh Advisors Inc. bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at approximately $1,013,000. Lisanti Capital Growth LLC acquired a new stake in Firefly Aerospace during the second quarter worth approximately $3,059,000. Finally, Royal Bank of Canada increased its stake in Firefly Aerospace by 1,803.9% during the 1st quarter. Royal Bank of Canada now owns 225,782 shares of the company's stock worth $6,428,000 after acquiring an additional 213,923 shares during the period.

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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