Firefly Aerospace (NASDAQ:FLY) Stock Price Down 8.5% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price fell 8.5% during mid-day trading on Wednesday . The stock traded as low as $25.14 and last traded at $24.8950. 3,470,330 shares were traded during mid-day trading, a decline of 42% from the average session volume of 5,944,393 shares. The stock had previously closed at $27.21.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FLY shares. Weiss Ratings downgraded shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. Morgan Stanley increased their target price 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 shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price on the stock in a research report on Monday, June 15th. Cantor Fitzgerald decreased their price target on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Firefly Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $42.20.

Firefly Aerospace Trading Down 7.3%

The stock has a market capitalization of $4.04 billion and a P/E ratio of -3.06. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $39.05 and its 200 day simple moving average is $29.88.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The firm had revenue of $80.88 million during the quarter. During the same period in the prior year, the business posted ($5.09) EPS. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. Equities research analysts anticipate that Firefly Aerospace, Inc. will post -1.97 EPS for the current fiscal year.

Insider Buying and Selling at Firefly Aerospace

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,765 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $45.12, for a total value of $169,876.80. Following the sale, the general counsel owned 142,758 shares of the company’s stock, valued at $6,441,240.96. The trade was a 2.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in shares of Firefly Aerospace in the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC acquired a new position in Firefly Aerospace during the third quarter worth approximately $26,000. KBC Group NV acquired a new position in shares of Firefly Aerospace in the first quarter valued at $38,000. California State Teachers Retirement System acquired a new stake in Firefly Aerospace during the fourth quarter worth approximately $30,000. Finally, Russell Investments Group Ltd. bought a new stake in Firefly Aerospace in the 4th quarter valued at $38,000.

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.