Firefly Aerospace (NASDAQ:FLY) Stock Gets Price Target Cut from KeyCorp

Firefly Aerospace (NASDAQ:FLY) had its price target cut by equities researchers at KeyCorp from $50.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp‘s price objective suggests a potential upside of 95.20% from the company’s current price.

FLY has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. Jefferies Financial Group set a $35.00 price target on shares of Firefly Aerospace in a report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Wednesday, August 12th. B. Riley Financial decreased their price objective on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Firefly Aerospace Price Performance

NASDAQ FLY opened at $17.93 on Monday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -6.10 and a beta of 0.85. 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 stock’s fifty day moving average price is $20.87 and its 200 day moving average price is $27.15. Firefly Aerospace has a 1 year low of $15.99 and a 1 year high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The company had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The business’s revenue was up 659.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($5.78) EPS. As a group, equities research analysts forecast that Firefly Aerospace will post -2.31 earnings per share for the current year.

Institutional Trading of Firefly Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Firefly Aerospace in the 3rd quarter worth approximately $23,354,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Firefly Aerospace during the third quarter valued at $475,000. Wedbush Securities Inc. grew its position in Firefly Aerospace by 52.0% during the third quarter. Wedbush Securities Inc. now owns 20,405 shares of the company’s stock valued at $472,000 after buying an additional 6,980 shares during the period. Sterling Capital Management LLC increased its holdings in Firefly Aerospace by 848.9% in the third quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock valued at $62,000 after buying an additional 2,377 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Firefly Aerospace by 81.4% in the third quarter. SBI Securities Co. Ltd. now owns 10,086 shares of the company’s stock worth $233,000 after acquiring an additional 4,527 shares during the period.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.