Firefly Aerospace (NASDAQ:FLY) Trading Down 10.3% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price fell 10.3% during trading on Friday . The stock traded as low as $37.65 and last traded at $38.02. 4,487,019 shares were traded during trading, a decline of 11% from the average session volume of 5,062,564 shares. The stock had previously closed at $42.38.

Analyst Upgrades and Downgrades

Several research firms recently commented on FLY. Roth Mkm boosted their price target on Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. B. Riley Financial began coverage on Firefly Aerospace in a research report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 target price on the stock. The Goldman Sachs Group upped their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.56.

Firefly Aerospace Stock Performance

The stock has a 50-day simple moving average of $31.96 and a 200-day simple moving average of $26.11. The company has a market capitalization of $6.48 billion and a price-to-earnings ratio of -4.96. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The company had revenue of $80.88 million for the quarter. During the same period in the previous year, the company earned ($5.09) earnings per share. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, analysts anticipate that Firefly Aerospace, Inc. will post -1.81 earnings per share for the current year.

Insider Buying and Selling at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.04, for a total value of $169,620.64. Following the completion of the sale, the general counsel directly owned 142,758 shares in the company, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

A number of institutional investors have recently made changes to their positions in FLY. BNP Paribas Financial Markets bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace in the 4th quarter valued at approximately $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace in the 4th quarter valued at approximately $38,000. Finally, KBC Group NV bought a new stake in shares of Firefly Aerospace in the 1st quarter valued at approximately $38,000.

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.