Jefferies Financial Group Issues Pessimistic Forecast for Firefly Aerospace (NASDAQ:FLY) Stock Price

Firefly Aerospace (NASDAQ:FLY) had its target price lowered by Jefferies Financial Group from $35.00 to $30.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group‘s price target suggests a potential upside of 18.77% from the stock’s current price.

FLY has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. Wall Street Zen raised Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Roth Capital decreased their target price on shares of Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Barclays raised their target price on shares of Firefly Aerospace from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Firefly Aerospace Stock Down 0.2%

Shares of NASDAQ FLY traded down $0.05 during mid-day trading on Friday, hitting $25.26. The company had a trading volume of 1,964,729 shares, compared to its average volume of 4,876,016. The company has a current ratio of 2.29, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $20.63 and a two-hundred day simple moving average of $26.76. The company has a market capitalization of $4.34 billion, a PE ratio of -12.67 and a beta of 0.84. Firefly Aerospace has a one year low of $14.44 and a one year high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Tuesday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.05. Firefly Aerospace had a negative return on equity of 24.96% and a negative net margin of 88.37%. The business had revenue of $110.68 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Firefly Aerospace’s revenue was up 259.4% on a year-over-year basis. On average, equities analysts expect that Firefly Aerospace will post -2.31 EPS for the current year.

Hedge Funds Weigh In On Firefly Aerospace

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

Firefly Aerospace Company Profile

Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.