Firefly Aerospace (NASDAQ:FLY) Stock Price Target Lowered at B. Riley Financial

Firefly Aerospace (NASDAQ:FLY) had its target price trimmed by B. Riley Financial from $50.00 to $40.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Roth Capital decreased their target price on shares of Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Barclays initiated coverage on Firefly Aerospace in a research report on Friday, October 9th. They issued an “equal weight” rating and a $34.00 price target on the stock. Wall Street Zen downgraded Firefly Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Jefferies Financial Group set a $35.00 price objective on Firefly Aerospace in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company assumed coverage on Firefly Aerospace in a research note on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Firefly Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Firefly Aerospace Price Performance

Shares of Firefly Aerospace stock opened at $17.16 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $20.48 and a 200 day moving average of $26.97. 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The company had revenue of $117.68 million during the quarter. During the same period last year, the business earned ($5.78) earnings per share. The company’s revenue was up 659.2% on a year-over-year basis. As a group, analysts anticipate that Firefly Aerospace will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Firefly Aerospace

Several institutional investors and hedge funds have recently made changes to their positions in FLY. KBC Group NV bought a new stake in shares of Firefly Aerospace in the 1st quarter worth $38,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace during the second quarter valued at $56,000. Sterling Capital Management LLC lifted its holdings in shares of Firefly Aerospace by 848.9% during the third quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock valued at $62,000 after purchasing an additional 2,377 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Firefly Aerospace by 398.0% during the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after buying an additional 2,360 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in shares of Firefly Aerospace during the second quarter valued at $103,000.

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.