Firefly Aerospace (NASDAQ:FLY) Stock Falls 5.5% - Here's Why

Key Points

• Firefly Aerospace shares fell 5.5% to $22.79, with trading volume down 68% from the average session volume.
• Analyst sentiment remains mixed but generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $36.82, despite recent downgrades and sell ratings.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and an EPS loss of $0.42 that beat estimates; major institutional investors also increased or initiated positions.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report)'s share price fell 5.5% during trading on Tuesday. The stock traded as low as $22.93 and last traded at $22.79. Approximately 1,598,915 shares traded hands during trading, a decline of 68% from the average session volume of 5,059,168 shares. The stock had previously closed at $24.11.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FLY shares. Cantor Fitzgerald restated an "overweight" rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Wednesday, August 12th. B. Riley Financial reduced their target price on shares of Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Jefferies Financial Group set a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Wall Street Zen cut Firefly Aerospace from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.82.

Firefly Aerospace Price Performance

The business's 50-day simple moving average is $22.53 and its 200-day simple moving average is $29.53. The stock has a market cap of $3.83 billion and a PE ratio of -7.78. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.08. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The company had revenue of $117.68 million for the quarter. During the same quarter in the prior year, the firm earned ($5.78) EPS. The firm's revenue for the quarter was up 659.2% on a year-over-year basis. On average, research analysts expect that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Firefly Aerospace in the 2nd quarter worth approximately $173,573,000. Van ECK Associates Corp increased its stake in shares of Firefly Aerospace by 43.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company's stock worth $89,621,000 after purchasing an additional 927,804 shares in the last quarter. Tema ETFs LLC raised its holdings in Firefly Aerospace by 133,440.2% in the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock worth $67,057,000 after purchasing an additional 2,279,159 shares during the period. Tidal Investments LLC purchased a new position in Firefly Aerospace during the second quarter valued at $63,714,000. Finally, Temasek Holdings Private Ltd grew its holdings in Firefly Aerospace by 151.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company's stock valued at $23,927,000 after purchasing an additional 643,886 shares during the period.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.

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