Cantor Fitzgerald Cuts Firefly Aerospace (NASDAQ:FLY) Price Target to $35.00

Firefly Aerospace (NASDAQ:FLY) had its price target lowered by Cantor Fitzgerald from $65.00 to $35.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 25.88% from the company’s previous close.

Other analysts also recently issued research reports about the company. UBS Group set a $33.00 price target on Firefly Aerospace in a research note on Thursday, March 12th. The Goldman Sachs Group upped their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. KeyCorp assumed coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Finally, Morgan Stanley reissued a “positive” rating on shares of Firefly Aerospace in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.13.

Firefly Aerospace Trading Up 1.0%

NASDAQ FLY opened at $27.81 on Thursday. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The company has a fifty day simple moving average of $23.71 and a two-hundred day simple moving average of $25.83. The company has a current ratio of 4.51, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.45 billion and a P/E ratio of -3.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The firm had revenue of $57.67 million for the quarter. Firefly Aerospace’s revenue was up 541.1% compared to the same quarter last year.

Institutional Investors Weigh In On Firefly Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth approximately $136,000. Caitong International Asset Management Co. Ltd boosted its holdings in Firefly Aerospace by 140.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 28,689 shares of the company’s stock worth $642,000 after buying an additional 16,745 shares in the last quarter. Virtu Financial LLC grew its position in Firefly Aerospace by 104.0% during the fourth quarter. Virtu Financial LLC now owns 14,824 shares of the company’s stock valued at $332,000 after buying an additional 7,556 shares during the period. Invesco Ltd. purchased a new position in Firefly Aerospace in the fourth quarter valued at $11,607,000. Finally, VARCOV Co. acquired a new position in shares of Firefly Aerospace in the fourth quarter worth about $262,000.

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.