Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) shares traded down 4.9% on Tuesday. The stock traded as low as $18.56 and last traded at $18.4150. Approximately 548,250 shares were traded during trading, a decline of 89% from the average daily volume of 4,974,569 shares. The stock had previously closed at $19.37.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. KeyCorp raised Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research report on Monday, June 15th. Wall Street Zen downgraded Firefly Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. B. Riley Financial decreased their price target on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Roth Capital lowered their price target on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Wells Fargo & Company initiated coverage on Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.58.
Read Our Latest Analysis on FLY
Firefly Aerospace Price Performance
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $117.68 million for the quarter. During the same quarter last year, the company earned ($5.78) EPS. The firm’s revenue for the quarter was up 659.2% on a year-over-year basis. Sell-side analysts forecast that Firefly Aerospace, Inc. will post -2.31 EPS for the current year.
Institutional Investors Weigh In On Firefly Aerospace
A number of hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in shares of Firefly Aerospace during the 1st quarter valued at $38,000. Integrated Wealth Concepts LLC purchased a new position in shares of Firefly Aerospace in the 2nd quarter worth $56,000. Parallel Advisors LLC grew its holdings in shares of Firefly Aerospace by 398.0% in the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock worth $84,000 after acquiring an additional 2,360 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Firefly Aerospace in the second quarter worth $103,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Firefly Aerospace during the fourth quarter valued at $136,000.
Firefly Aerospace Company Profile
Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.
Firefly’s primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.
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