Wall Street Zen Upgrades Firefly Aerospace (NASDAQ:FLY) to Sell

Firefly Aerospace (NASDAQ:FLY) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities analysts have also weighed in on FLY. The Goldman Sachs Group boosted their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. KeyCorp upgraded Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Monday, June 15th. B. Riley Financial lowered their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Jefferies Financial Group set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $35.00 price objective on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Stock Performance

Shares of Firefly Aerospace stock opened at $26.67 on Friday. The stock has a market cap of $4.46 billion and a P/E ratio of -9.07. The stock’s 50 day simple moving average is $25.79 and its 200-day simple moving average is $29.44. Firefly Aerospace has a 1-year low of $16.00 and a 1-year high of $62.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The business had revenue of $117.68 million during the quarter. During the same quarter last year, the company earned ($5.78) earnings per share. Firefly Aerospace’s revenue for the quarter was up 659.2% on a year-over-year basis. Analysts predict that Firefly Aerospace will post -1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Firefly Aerospace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Man Group plc acquired a new position in shares of Firefly Aerospace in the 2nd quarter valued at $3,730,000. Jupiter Topco LLC purchased a new position in shares of Firefly Aerospace during the 2nd quarter worth $732,000. EFG International AG acquired a new stake in shares of Firefly Aerospace during the 2nd quarter worth about $3,256,000. PDT Partners LLC acquired a new position in Firefly Aerospace in the second quarter valued at about $2,103,000. Finally, Legal & General Group Plc acquired a new position in Firefly Aerospace in the second quarter valued at about $1,316,000.

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.