Firefly Aerospace (NASDAQ:FLY) Trading Down 6.3% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) was down 6.3% during trading on Wednesday . The stock traded as low as $39.22 and last traded at $39.4430. Approximately 4,935,993 shares traded hands during trading, an increase of 2% from the average daily volume of 4,860,027 shares. The stock had previously closed at $42.09.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FLY shares. The Goldman Sachs Group upped their price target on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Wall Street Zen upgraded Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group set a $33.00 price target on Firefly Aerospace in a report on Thursday, March 12th. Finally, Morgan Stanley reiterated a “positive” rating on shares of Firefly Aerospace in a report on Thursday, March 12th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Firefly Aerospace Price Performance

The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $26.70 and a 200 day moving average price of $25.14. The stock has a market cap of $6.44 billion and a PE ratio of -4.39.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The firm had revenue of $57.67 million for the quarter. The firm’s revenue was up 541.1% on a year-over-year basis. As a group, research analysts forecast that Firefly Aerospace, Inc. will post -1.8 earnings per share for the current fiscal year.

Insider Activity at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.04, for a total transaction of $169,620.64. Following the transaction, the general counsel owned 142,758 shares of the company’s stock, valued at $6,429,820.32. This represents a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Firefly Aerospace

A number of institutional investors have recently added to or reduced their stakes in FLY. AE Industrial Partners LP purchased a new stake in Firefly Aerospace during the 3rd quarter worth about $1,063,863,000. Vanguard Group Inc. purchased a new stake in Firefly Aerospace during the 3rd quarter worth about $53,409,000. Hudson Bay Capital Management LP purchased a new stake in Firefly Aerospace during the 3rd quarter worth about $50,711,000. UBS Group AG lifted its holdings in Firefly Aerospace by 233.6% during the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after purchasing an additional 1,241,987 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Firefly Aerospace during the 3rd quarter worth about $35,337,000.

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.