York Space Systems (NYSE:YSS) Stock Falls 10.4% - Here's Why

Key Points

• York Space Systems shares fell 10.4% in Thursday midday trading, reaching $6.49; trading volume was 45% below its average.
• Recent analyst actions included lower price targets and a downgrade from Canaccord Genuity, while the consensus rating remains “Hold” with an average target of $16.12.
• The company’s latest reported quarter missed expectations, posting a loss of $0.31 per share versus the $0.19 loss analysts forecast; revenue was $92.55 million.

York Space Systems Inc. (NYSE:YSS - Get Free Report)'s share price fell 10.4% during mid-day trading on Thursday. The stock traded as low as $6.61 and last traded at $6.4890. 1,237,953 shares changed hands during trading, a decline of 45% from the average daily volume of 2,270,634 shares. The stock had previously closed at $7.24.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on YSS. Robert W. Baird set a $16.00 price target on shares of York Space Systems in a research report on Monday, August 17th. Piper Sandler decreased their price objective on shares of York Space Systems from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, October 23rd. Weiss Ratings reissued a "sell (d)" rating on shares of York Space Systems in a research note on Wednesday, August 12th. Canaccord Genuity Group lowered shares of York Space Systems from a "buy" rating to a "hold" rating and dropped their target price for the company from $36.00 to $13.50 in a report on Monday, August 17th. Finally, Wells Fargo & Company cut their price target on shares of York Space Systems from $35.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, August 31st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.12.

York Space Systems Stock Down 9.2%

The stock's 50-day moving average price is $7.50 and its two-hundred day moving average price is $19.63. The stock has a market capitalization of $902.72 million and a P/E ratio of -11.02. The company has a current ratio of 5.34, a quick ratio of 5.05 and a debt-to-equity ratio of 0.08.

York Space Systems (NYSE:YSS - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.12). The firm had revenue of $92.55 million for the quarter. As a group, research analysts expect that York Space Systems Inc. will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On York Space Systems

Hedge funds have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of York Space Systems by 64.0% during the 3rd quarter. State Street Corp now owns 4,702,355 shares of the company's stock valued at $40,675,000 after purchasing an additional 1,834,479 shares during the last quarter. Private Wealth Asset Management LLC bought a new stake in shares of York Space Systems in the 3rd quarter valued at about $1,295,000. Voya Investment Management LLC lifted its position in York Space Systems by 0.8% in the third quarter. Voya Investment Management LLC now owns 1,632,024 shares of the company's stock valued at $14,117,000 after purchasing an additional 13,706 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in York Space Systems during the 3rd quarter valued at $25,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of York Space Systems by 89.0% during the third quarter. Russell Investments Group Ltd. now owns 12,791 shares of the company's stock worth $111,000 after purchasing an additional 6,023 shares during the period.

About York Space Systems

York Space Systems designs, manufactures and operates spacecraft and related systems. Its offerings include satellite platforms, spacecraft integration, mission operations and ground-system services for customers developing and operating satellite missions. The company's product portfolio includes standardized spacecraft platforms designed to support a range of payloads and mission requirements. York serves government and commercial customers, including organizations involved in national security, civil space and communications missions.

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