Firefly Aerospace (NASDAQ:FLY) Stock Price Down 7.7% - Here's What Happened

Key Points

• Shares fell 7.7% to about $28.02 on Wednesday, with 2.23 million shares traded—roughly 40% below the average session volume and down from a prior close of $30.34.
• Analyst sentiment is mixed but tilted positive: the consensus rating is "Moderate Buy" with an average price target of $39.71, while individual targets range from $28 to $33 and firms have issued upgrades and downgrades.
• Fundamentals show a market cap of $4.6 billion, a negative P/E (-3.97) but strong liquidity (quick and current ratios of 6.20), and a recent quarter that beat EPS and revenue estimates with revenue up 37.5% year-over-year.

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) traded down 7.7% on Wednesday . The company traded as low as $28.05 and last traded at $28.0170. 2,225,036 shares changed hands during trading, a decline of 40% from the average session volume of 3,691,930 shares. The stock had previously closed at $30.34.

Analysts Set New Price Targets

A number of research firms recently commented on FLY. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upgraded Firefly Aerospace from a "hold" rating to a "buy" rating and cut their target price for the stock from $40.00 to $30.00 in a research report on Thursday, November 13th. The Goldman Sachs Group upped their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley set a $33.00 price target on Firefly Aerospace in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Firefly Aerospace from $55.00 to $28.00 and set an "overweight" rating for the company in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Firefly Aerospace presently has an average rating of "Moderate Buy" and an average price target of $39.71.

Firefly Aerospace Price Performance

The stock has a market cap of $4.60 billion and a price-to-earnings ratio of -3.97. The company has a 50 day moving average price of $22.90. 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 announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.09. The business had revenue of $30.78 million during the quarter, compared to analysts' expectations of $28.93 million. The firm's revenue was up 37.5% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Canal Insurance CO purchased a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $293,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Firefly Aerospace during the third quarter worth $293,000. Teacher Retirement System of Texas purchased a new stake in Firefly Aerospace during the third quarter worth $3,836,000. LBP AM SA acquired a new stake in Firefly Aerospace in the third quarter valued at $1,795,000. Finally, Phoenix Financial Ltd. purchased a new position in shares of Firefly Aerospace in the third quarter valued at $14,468,000.

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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