Firefly Aerospace (NASDAQ:FLY) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Firefly Aerospace (NASDAQ:FLY) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research firms have also weighed in on FLY. Weiss Ratings lowered shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Cantor Fitzgerald reduced their price target on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. Roth Mkm increased their price target on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. B. Riley Financial began coverage on shares of Firefly Aerospace in a research report on Wednesday. They set a “buy” rating and a $60.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Six equities 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 MarketBeat, Firefly Aerospace presently has a consensus rating of “Hold” and an average target price of $40.56.

Firefly Aerospace Stock Performance

NASDAQ FLY opened at $39.68 on Friday. Firefly Aerospace has a 1 year low of $16.00 and a 1 year high of $73.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 4.51. The firm has a market cap of $6.36 billion and a price-to-earnings ratio of -4.87. The company has a fifty day moving average price of $29.66 and a 200-day moving average price of $25.56.

Firefly Aerospace (NASDAQ:FLY) last posted its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The business’s revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($5.09) EPS. As a group, equities research analysts predict that Firefly Aerospace will post -1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the completion of the transaction, the general counsel owned 142,758 shares in the company, valued at $6,429,820.32. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Firefly Aerospace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the third quarter worth about $26,000. CIBC Private Wealth Group LLC bought a new position in Firefly Aerospace during the third quarter worth about $26,000. California State Teachers Retirement System bought a new position in Firefly Aerospace during the fourth quarter worth about $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the fourth quarter worth about $38,000. Finally, KBC Group NV bought a new position in Firefly Aerospace during the first quarter worth about $38,000.

About Firefly Aerospace

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.