Firefly Aerospace (NASDAQ:FLY) Shares Down 8.3% – Should You Sell?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) fell 8.3% during trading on Thursday . The company traded as low as $23.12 and last traded at $23.2040. Approximately 1,029,731 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 5,438,244 shares. The stock had previously closed at $25.30.

Wall Street Analyst Weigh In

FLY has been the topic of several recent analyst reports. Jefferies Financial Group set a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Weiss Ratings upgraded Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Wells Fargo & Company assumed coverage on Firefly Aerospace in a research report on Monday, July 27th. They issued an “equal weight” rating and a $25.00 target price on the stock. B. Riley Financial reduced their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $35.00 price target on shares of Firefly Aerospace in a report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Trading Down 8.4%

The firm has a 50-day moving average of $25.30 and a 200 day moving average of $29.39. The company has a market cap of $3.88 billion and a P/E ratio of -7.88. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The firm’s revenue was up 659.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($5.78) EPS. On average, analysts predict that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

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 purchased a new stake in shares of Firefly Aerospace during the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC purchased a new position in Firefly Aerospace in the 3rd quarter valued at approximately $26,000. California State Teachers Retirement System bought a new stake in Firefly Aerospace during the 4th quarter valued at $30,000. NBC Securities Inc. purchased a new stake in shares of Firefly Aerospace during the fourth quarter worth $38,000. Finally, KBC Group NV purchased a new stake in shares of Firefly Aerospace during the first quarter worth $38,000.

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.