Firefly Aerospace (NASDAQ:FLY) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Firefly Aerospace from “strong sell” to “sell,” while broader analyst sentiment remains more positive with a consensus “Moderate Buy” rating and an average price target of $36.82.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and an adjusted loss of $0.42 per share that beat estimates; however, the company still posted a negative net margin of 126.64%.
• The stock opened at $26.67, with a $4.46 billion market capitalization and a wide 52-week range of $16.00 to $62.17. Insider ownership stands at 7.5%, and a company general counsel recently sold shares.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Other research analysts have also recently issued reports about the stock. Roth Capital reduced their price target on shares of Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday. Jefferies Financial Group set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday. Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research report on Monday, July 27th. They issued an "equal weight" rating and a $25.00 target price on the stock. Finally, Weiss Ratings raised shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 25th. Seven investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.82.

Firefly Aerospace Price Performance

Firefly Aerospace stock opened at $26.67 on Friday. The stock has a market cap of $4.46 billion and a price-to-earnings ratio of -9.07. The company has a quick ratio of 2.53, a current ratio of 2.73 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $25.79 and a 200 day simple moving average of $29.41. Firefly Aerospace has a 52 week low of $16.00 and a 52 week high of $62.17.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.08. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The business had revenue of $117.68 million during the quarter. During the same quarter in the previous year, the firm earned ($5.78) earnings per share. The company's revenue for the quarter was up 659.2% compared to the same quarter last year. On average, research analysts forecast that Firefly Aerospace will post -1.86 earnings per share for the current fiscal year.

Insider Transactions at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,765 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $45.12, for a total transaction of $169,876.80. Following the transaction, the general counsel owned 142,758 shares in the company, valued at $6,441,240.96. The trade was a 2.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Firefly Aerospace

A number of large investors have recently made changes to their positions in FLY. BNP Paribas Financial Markets bought a new position in shares of Firefly Aerospace during the third quarter valued at approximately $26,000. CIBC Private Wealth Group LLC purchased a new stake in Firefly Aerospace in the third quarter worth $26,000. California State Teachers Retirement System bought a new stake in Firefly Aerospace in the fourth quarter valued at $30,000. NBC Securities Inc. purchased a new position in Firefly Aerospace during the 4th quarter valued at $38,000. Finally, KBC Group NV bought a new position in Firefly Aerospace in the 1st quarter worth $38,000.

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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