Firefly Aerospace (NASDAQ:FLY) Stock Price Down 7% – Time to Sell?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares were down 7% during trading on Monday . The company traded as low as $23.51 and last traded at $23.4280. Approximately 1,878,802 shares were traded during trading, a decline of 48% from the average daily volume of 3,628,384 shares. The stock had previously closed at $25.20.

Analysts Set New Price Targets

A number of research firms have recently commented on FLY. Deutsche Bank Aktiengesellschaft upgraded Firefly Aerospace from a “hold” rating to a “buy” rating and lowered their target price for the stock from $40.00 to $30.00 in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. The Goldman Sachs Group lifted their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a report on Friday, January 16th. Finally, KeyCorp initiated coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.71.

Firefly Aerospace Price Performance

The company has a market capitalization of $3.64 billion and a PE ratio of -3.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.20 and a quick ratio of 6.20. The company has a fifty day simple moving average of $24.29.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FLY. Phoenix Financial Ltd. bought a new position in shares of Firefly Aerospace in the 3rd quarter worth $14,468,000. LBP AM SA bought a new stake in Firefly Aerospace during the third quarter worth about $1,795,000. Teacher Retirement System of Texas bought a new stake in Firefly Aerospace in the 3rd quarter worth approximately $3,836,000. BlueCrest Capital Management Ltd bought a new position in Firefly Aerospace during the third quarter valued at approximately $14,035,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace during the third quarter worth approximately $50,711,000.

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.