Firefly Aerospace (NASDAQ:FLY) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Firefly Aerospace (NASDAQ:FLY) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

FLY has been the subject of several other reports. Jefferies Financial Group set a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a report on Monday, June 15th. Wells Fargo & Company initiated coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price for the company. Weiss Ratings upgraded shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.82.

Firefly Aerospace Trading Up 8.9%

NASDAQ FLY opened at $22.83 on Friday. The stock has a market cap of $3.82 billion and a P/E ratio of -7.77. Firefly Aerospace has a fifty-two week low of $16.00 and a fifty-two week high of $62.17. The stock has a 50 day simple moving average of $22.20 and a two-hundred day simple moving average of $29.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carlson Financial Inc. raised its stake in Firefly Aerospace by 8.8% during the second quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock valued at $241,000 after purchasing an additional 667 shares in the last quarter. KBC Group NV bought a new stake in shares of Firefly Aerospace in the 1st quarter worth about $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of Firefly Aerospace in the 2nd quarter worth about $56,000. First Trust Advisors LP raised its position in shares of Firefly Aerospace by 7.1% during the 1st quarter. First Trust Advisors LP now owns 32,235 shares of the company’s stock valued at $918,000 after buying an additional 2,127 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after acquiring an additional 2,360 shares during the last quarter.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.