Firefly Aerospace (NASDAQ:FLY) Stock Price Down 10.9% - Here's What Happened

Key Points

• Shares fell 10.9% on Friday to about $19.18 (intraday low $19.30) on volume of 1,309,171 shares, roughly 60% below the average session volume.
• Analyst sentiment is mixed but tilted positive with a MarketBeat consensus of "Moderate Buy" and a consensus target of $39.71; individual notes range from Morgan Stanley's $33 target to JPMorgan cutting its target to $28 and Weiss Ratings keeping a sell rating.
• Institutional investors have been building positions—AE Industrial Partners bought a new stake of roughly $1.06B and others (Vanguard, Hudson Bay, UBS, Capital World) added shares—while the company shows low debt (D/E 0.03) and high liquidity (current/quick ratio 6.20).

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report)'s stock price fell 10.9% on Friday . The stock traded as low as $19.30 and last traded at $19.1750. 1,309,171 shares were traded during trading, a decline of 60% from the average session volume of 3,302,471 shares. The stock had previously closed at $21.53.

Analyst Ratings Changes

Several research firms recently commented on FLY. KeyCorp initiated coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They set a "sector weight" rating for the company. Morgan Stanley set a $33.00 target price on shares of Firefly Aerospace in a research report on Friday, January 16th. Roth Mkm restated a "buy" rating on shares of Firefly Aerospace in a report on Monday, November 24th. JPMorgan Chase & Co. cut their price objective on Firefly Aerospace from $55.00 to $28.00 and set an "overweight" rating for the company in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Firefly Aerospace in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.71.

Firefly Aerospace Trading Down 9.0%

The business has a fifty day moving average price of $25.21. The stock has a market capitalization of $3.12 billion and a P/E ratio of -2.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20.

Institutional Trading of Firefly Aerospace

Institutional investors have recently modified their holdings of the business. AE Industrial Partners LP purchased a new position in Firefly Aerospace in the 3rd quarter valued at approximately $1,063,863,000. Vanguard Group Inc. bought a new position in shares of Firefly Aerospace in the third quarter worth $53,409,000. Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace in the third quarter valued at $50,711,000. UBS Group AG raised its stake 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 valued at $39,676,000 after purchasing an additional 1,241,987 shares during the period. Finally, Capital World Investors purchased a new stake in Firefly Aerospace during the 3rd quarter worth about $35,337,000.

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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