Firefly Aerospace (NASDAQ:FLY) Stock Price Down 4.1% - Here's What Happened

Key Points

• Firefly Aerospace shares fell 4.1% on Monday to about $22.27 (intraday low $21.53) with mid-day volume around 2.0 million shares, down roughly 46% from its average session volume.
• Analysts hold a consensus Moderate Buy rating with an average price target of $38.88, amid mixed updates including JPMorgan cutting its target to $28 while Goldman raised its target to $32.
• In its latest quarter Firefly reported EPS of ‑$0.38 (beating the ‑$0.48 estimate) and revenue of $57.67 million, a 541% YoY increase, while the company shows strong liquidity and a market cap of about $3.77 billion.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares traded down 4.1% on Monday . The stock traded as low as $21.53 and last traded at $22.2720. 2,000,809 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 3,679,229 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

A number of brokerages have recently commented on FLY. UBS Group set a $33.00 price objective on Firefly Aerospace in a research report on Thursday, March 12th. JPMorgan Chase & Co. dropped their price objective on shares of Firefly Aerospace from $55.00 to $28.00 and set an "overweight" rating for the company in a research note on Tuesday, November 25th. The Goldman Sachs Group raised their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. Morgan Stanley reaffirmed a "positive" rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. Finally, Roth Mkm reissued a "buy" rating on shares of Firefly Aerospace in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.88.

Firefly Aerospace Trading Up 1.9%

The firm's 50 day simple moving average is $23.97 and its 200-day simple moving average is $26.08. The company has a market capitalization of $3.77 billion and a PE ratio of -2.59. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. The business had revenue of $57.67 million for the quarter. The company's revenue for the quarter was up 541.1% on a year-over-year basis.

Hedge Funds Weigh In On Firefly Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of FLY. Rockefeller Capital Management L.P. acquired a new stake in Firefly Aerospace in the fourth quarter valued at approximately $136,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Firefly Aerospace by 140.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 28,689 shares of the company's stock worth $642,000 after purchasing an additional 16,745 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Firefly Aerospace by 104.0% in the fourth quarter. Virtu Financial LLC now owns 14,824 shares of the company's stock valued at $332,000 after purchasing an additional 7,556 shares during the period. Invesco Ltd. purchased a new position in shares of Firefly Aerospace in the fourth quarter valued at $11,607,000. Finally, VARCOV Co. acquired a new stake in Firefly Aerospace during the 4th quarter valued at $262,000.

About Firefly Aerospace

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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