Firefly Aerospace (NASDAQ:FLY) Shares Gap Down – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) gapped down before the market opened on Tuesday . The stock had previously closed at $33.41, but opened at $31.45. Firefly Aerospace shares last traded at $31.5710, with a volume of 1,918,864 shares traded.

Wall Street Analyst Weigh In

FLY has been the subject of a number of research analyst reports. KeyCorp initiated coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Morgan Stanley set a $33.00 price target on shares of Firefly Aerospace in a report on Friday. The Goldman Sachs Group boosted their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Firefly Aerospace currently has an average rating of “Moderate Buy” and an average price target of $39.71.

Firefly Aerospace Price Performance

The stock’s 50 day moving average is $22.67. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.83 billion and a PE ratio of -4.17.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $30.78 million during the quarter, compared to analyst estimates of $28.93 million. Firefly Aerospace’s quarterly revenue was up 37.5% on a year-over-year basis.

Institutional Trading of Firefly Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of FLY. AE Industrial Partners LP bought a new position in Firefly Aerospace during the 3rd quarter worth approximately $1,063,863,000. Vanguard Group Inc. acquired a new stake in Firefly Aerospace in the third quarter worth $53,409,000. Hudson Bay Capital Management LP bought a new position in shares of Firefly Aerospace during the third quarter worth $50,711,000. Capital World Investors acquired a new position in shares of Firefly Aerospace in the 3rd quarter valued at $35,337,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at $19,899,000.

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.