Firefly Aerospace (NASDAQ:FLY) Trading Down 8.3% - Here's What Happened

Key Points

• Shares down 8.3%: Firefly Aerospace fell to $21.095 (intraday low $21.43) with 618,978 shares traded, an 83% decline from its average daily volume.
• Analyst sentiment mixed but positive on average: MarketBeat data shows a consensus rating of "Moderate Buy" with an average price target of $39.71; notable targets include Morgan Stanley $33 and Goldman Sachs raising its target to $32.
• Fundamentals show growth amid losses: Market cap ~$3.35B and a negative P/E (-2.88) after EPS of ($0.33) that beat estimates, revenue rose 37.5% YoY, and the company reports low debt (D/E 0.03) with strong liquidity (current and quick ratios 6.20).

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) traded down 8.3% on Wednesday . The company traded as low as $21.43 and last traded at $21.0950. 618,978 shares were traded during mid-day trading, a decline of 83% from the average session volume of 3,572,395 shares. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FLY. Morgan Stanley set a $33.00 target price on Firefly Aerospace in a research note on Friday, January 16th. The Goldman Sachs Group increased their price target 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. KeyCorp assumed coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They issued a "sector weight" rating for the company. Roth Mkm reiterated a "buy" rating on shares of Firefly Aerospace in a report on Monday, November 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Firefly Aerospace in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.71.

Firefly Aerospace Stock Performance

The firm's 50-day moving average is $25.18. The stock has a market capitalization of $3.35 billion and a P/E ratio of -2.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.20 and a quick ratio of 6.20.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its earnings results on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate 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. Firefly Aerospace's revenue was up 37.5% compared to the same quarter last year.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in Firefly Aerospace in the third quarter valued at approximately $26,000. CIBC Private Wealth Group LLC acquired a new stake in Firefly Aerospace during the third quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in shares of Firefly Aerospace during the 4th quarter worth approximately $38,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Firefly Aerospace in the 3rd quarter valued at $55,000. Finally, Rakuten Securities Inc. acquired a new stake in Firefly Aerospace during the 4th quarter worth $69,000.

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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