Shares of Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) dropped 6.1% during mid-day trading on Tuesday . The company traded as low as $27.90 and last traded at $27.2830. Approximately 1,138,272 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 6,001,816 shares. The stock had previously closed at $29.05.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on FLY. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research report on Thursday, March 12th. The Goldman Sachs Group raised their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. KeyCorp upgraded Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research note on Monday, June 15th. Finally, B. Riley Financial began coverage on Firefly Aerospace in a research report on Wednesday, May 6th. They set a “buy” rating and a $60.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.20.
Check Out Our Latest Stock Report on Firefly Aerospace
Firefly Aerospace Stock Up 1.4%
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. Firefly Aerospace’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($5.09) earnings per share. As a group, equities research analysts predict that Firefly Aerospace, Inc. will post -1.97 earnings per share for the current year.
Insider Buying and Selling
In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the 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 sale, the general counsel owned 142,758 shares in the company, valued at approximately $6,429,820.32. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.50% of the company’s stock.
Institutional Investors Weigh In On Firefly Aerospace
A number of hedge funds have recently added to or reduced their stakes in FLY. Parallel Advisors LLC increased its position in Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after acquiring an additional 2,360 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Firefly Aerospace in the first quarter valued at approximately $373,000. Bank of America Corp DE raised its position in Firefly Aerospace by 55.8% in the 1st quarter. Bank of America Corp DE now owns 299,042 shares of the company’s stock worth $8,514,000 after purchasing an additional 107,080 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Firefly Aerospace during the 1st quarter worth $503,000. Finally, California State Teachers Retirement System lifted its holdings in Firefly Aerospace by 2,259.2% during the 1st quarter. California State Teachers Retirement System now owns 31,189 shares of the company’s stock worth $888,000 after buying an additional 29,867 shares in the last quarter.
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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