Firefly Aerospace (NASDAQ:FLY) Stock Price Down 5.6% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) traded down 5.6% during mid-day trading on Thursday . The stock traded as low as $40.90 and last traded at $41.5520. 1,077,316 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 5,122,534 shares. The stock had previously closed at $44.00.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price target on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 13th. B. Riley Financial started coverage on shares of Firefly Aerospace in a research note on Wednesday, May 6th. They set a “buy” rating and a $60.00 target price on the stock. Weiss Ratings downgraded shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. Roth Mkm boosted their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research note on Thursday, March 12th. Six equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.56.

Firefly Aerospace Stock Performance

The firm’s 50 day simple moving average is $34.40 and its 200-day simple moving average is $26.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.53 and a current ratio of 2.53. The company has a market capitalization of $7.93 billion and a price-to-earnings ratio of -6.07.

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 the consensus estimate 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 company had revenue of $80.88 million for the quarter. During the same period last year, the firm earned ($5.09) earnings per share. Firefly Aerospace’s revenue for the quarter was up 44.8% compared to the same quarter last year. Analysts expect that Firefly Aerospace, Inc. will post -1.81 EPS for the current year.

Insider Activity at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the transaction, the general counsel directly owned 142,758 shares in the company, valued at $6,429,820.32. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Firefly Aerospace

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Firefly Aerospace during the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of Firefly Aerospace during the 3rd quarter valued at $26,000. KBC Group NV purchased a new position in shares of Firefly Aerospace during the 1st quarter valued at $38,000. California State Teachers Retirement System purchased a new position in shares of Firefly Aerospace during the 4th quarter valued at $30,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Firefly Aerospace during 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.