Firefly Aerospace (NASDAQ:FLY) Sets New 52-Week Low – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price reached a new 52-week low on Thursday. The stock traded as low as $15.99 and last traded at $16.6520, with a volume of 740,241 shares traded. The stock had previously closed at $17.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Roth Capital reduced their price objective on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $35.00 price target on Firefly Aerospace in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.58.

Firefly Aerospace Trading Up 1.5%

The firm’s 50 day moving average is $22.67 and its 200 day moving average is $29.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $2.89 billion, a PE ratio of -5.89 and a beta of 0.59.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The company’s quarterly revenue was up 659.2% on a year-over-year basis. During the same period in the previous year, the company earned ($5.78) EPS. As a group, equities analysts predict that Firefly Aerospace, Inc. will post -2.31 EPS for the current year.

Institutional Trading of Firefly Aerospace

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Firefly Aerospace by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 9,511 shares of the company’s stock worth $220,000 after purchasing an additional 567 shares during the last quarter. Carlson Financial Inc. raised its position in Firefly Aerospace by 8.8% during the 2nd quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock valued at $241,000 after purchasing an additional 667 shares during the last quarter. KBC Group NV bought a new position in Firefly Aerospace during the 1st quarter valued at approximately $38,000. Avidian Wealth Enterprises LLC lifted its holdings in Firefly Aerospace by 8.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 19,412 shares of the company’s stock worth $449,000 after buying an additional 1,442 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Firefly Aerospace in the 2nd quarter worth approximately $56,000.

About Firefly Aerospace

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.