Firefly Aerospace (NASDAQ:FLY) Stock Price Down 4.1% – Here’s What Happened

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price traded down 4.1% during mid-day trading on Monday . The stock traded as low as $21.53 and last traded at $22.2720. 2,000,809 shares changed hands during trading, a decline of 46% from the average session volume of 3,679,229 shares. The stock had previously closed at $23.22.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FLY shares. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. KeyCorp assumed coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. decreased their price objective on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. Finally, 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 report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.88.

Firefly Aerospace Stock Performance

The company has a market capitalization of $3.80 billion and a price-to-earnings ratio of -2.58. 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 firm has a 50-day simple moving average of $23.76 and a two-hundred day simple moving average of $25.82.

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

Institutional Investors Weigh In On Firefly Aerospace

Large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new position in Firefly Aerospace during the fourth quarter worth $136,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Firefly Aerospace by 140.2% in 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 during the last quarter. Virtu Financial LLC boosted its stake in shares of Firefly Aerospace by 104.0% during the 4th quarter. Virtu Financial LLC now owns 14,824 shares of the company’s stock worth $332,000 after acquiring an additional 7,556 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Firefly Aerospace during the 4th quarter valued at about $11,607,000. Finally, VARCOV Co. bought a new position in shares of Firefly Aerospace in the 4th quarter valued at approximately $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.