B. Riley Financial Issues Pessimistic Forecast for Firefly Aerospace (NASDAQ:FLY) Stock Price

Firefly Aerospace (NASDAQ:FLY) had its target price lowered by research analysts at B. Riley Financial from $50.00 to $40.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s price target points to a potential upside of 131.36% from the company’s current price.

A number of other research analysts have also recently commented on FLY. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Jefferies Financial Group set a $35.00 price target on Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company started coverage on Firefly Aerospace in a report on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price objective for the company. Wall Street Zen downgraded Firefly Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. 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, Firefly Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Firefly Aerospace Price Performance

NASDAQ:FLY traded up $0.28 during midday trading on Wednesday, hitting $17.29. 460,395 shares of the stock were exchanged, compared to its average volume of 4,806,225. Firefly Aerospace has a one year low of $15.99 and a one year high of $62.17. 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 market capitalization of $2.89 billion, a price-to-earnings ratio of -5.84 and a beta of 0.84. The business has a 50-day moving average price of $20.59 and a two-hundred day moving average price of $27.03.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The firm 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 company’s revenue was up 659.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($5.78) earnings per share. Sell-side analysts predict that Firefly Aerospace will post -2.31 EPS for the current year.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Firefly Aerospace during the 2nd quarter valued at $173,573,000. Van ECK Associates Corp grew its position in Firefly Aerospace by 43.8% in the second quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock worth $89,621,000 after acquiring an additional 927,804 shares in the last quarter. Tema ETFs LLC increased its stake in Firefly Aerospace by 133,440.2% in the second quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock valued at $67,057,000 after acquiring an additional 2,279,159 shares during the last quarter. Tidal Investments LLC purchased a new stake in Firefly Aerospace during the second quarter valued at about $63,714,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Firefly Aerospace during the third quarter worth about $23,354,000.

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.