Firefly Aerospace (NASDAQ:FLY) Stock Price Down 8.4% – Should You Sell?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares traded down 8.4% on Tuesday . The company traded as low as $35.82 and last traded at $35.5460. 2,575,968 shares were traded during trading, a decline of 44% from the average session volume of 4,636,069 shares. The stock had previously closed at $38.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Cantor Fitzgerald lowered their price objective on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Jefferies Financial Group boosted their price target on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. Finally, UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research note on Thursday, March 12th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Firefly Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Firefly Aerospace Stock Down 9.0%

The firm has a market capitalization of $5.65 billion and a price-to-earnings ratio of -3.86. The firm has a fifty day moving average price of $24.63 and a 200 day moving average price of $24.69. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.24.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.10. The firm had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The company’s revenue for the quarter was up 541.1% on a year-over-year basis.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLY. WCM Investment Management LLC bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $19,386,000. TD Asset Management Inc bought a new position in Firefly Aerospace in the 3rd quarter valued at $4,353,000. Liontrust Investment Partners LLP acquired a new stake in shares of Firefly Aerospace in the 3rd quarter valued at $1,790,000. Hudson Bay Capital Management LP acquired a new position in shares of Firefly Aerospace during the third quarter valued at $50,711,000. Finally, Phoenix Financial Ltd. bought a new position in Firefly Aerospace in the third quarter valued at about $14,468,000.

About Firefly Aerospace

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.