Firefly Aerospace (NASDAQ:FLY) Shares Down 7% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price fell 7% during trading on Monday . The stock traded as low as $23.51 and last traded at $23.4280. 1,878,802 shares traded hands during trading, a decline of 48% from the average session volume of 3,628,384 shares. The stock had previously closed at $25.20.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLY. Deutsche Bank Aktiengesellschaft upgraded shares of Firefly Aerospace from a “hold” rating to a “buy” rating and cut their price target for the stock from $40.00 to $30.00 in a report on Thursday, November 13th. The Goldman Sachs Group lifted their target price on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Roth Mkm reissued a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Finally, Morgan Stanley set a $33.00 price target on shares of Firefly Aerospace in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.71.

Firefly Aerospace Price Performance

The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $24.29. The stock has a market cap of $3.64 billion and a price-to-earnings ratio of -3.14.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $30.78 million for the quarter, compared to analyst estimates of $28.93 million. The business’s revenue for the quarter was up 37.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Firefly Aerospace in the 4th quarter valued at $85,000. Jennison Associates LLC raised its holdings in shares of Firefly Aerospace by 6.1% in the fourth quarter. Jennison Associates LLC now owns 356,692 shares of the company’s stock valued at $7,979,000 after purchasing an additional 20,359 shares during the last quarter. Huntleigh Advisors Inc. purchased a new position in Firefly Aerospace during the fourth quarter worth about $1,013,000. UBS Group AG grew its position in Firefly Aerospace by 233.6% in 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, Rakuten Securities Inc. purchased a new stake in Firefly Aerospace in the 4th quarter valued at about $69,000.

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.