Firefly Aerospace (NASDAQ:FLY) Trading Down 6.2% – Here’s What Happened

by · The Cerbat Gem

Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) was down 6.2% on Monday . The company traded as low as $18.76 and last traded at $18.5890. Approximately 494,423 shares were traded during trading, a decline of 74% from the average daily volume of 1,910,284 shares. The stock had previously closed at $19.81.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Roth Capital reaffirmed a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. The Goldman Sachs Group initiated coverage on shares of Firefly Aerospace in a research note on Thursday, November 20th. They issued a “neutral” rating and a $29.00 target price for the company. Cantor Fitzgerald started coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $65.00 price objective for the company. Wall Street Zen cut Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Firefly Aerospace in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Firefly Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

View Our Latest Stock Report on Firefly Aerospace

Firefly Aerospace Price Performance

The stock has a fifty day moving average price of $22.96.

Firefly Aerospace (NASDAQ:FLY – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $30.78 million during the quarter, compared to analyst estimates of $28.93 million. The firm’s revenue was up 37.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in Firefly Aerospace during the third quarter worth approximately $26,000. CIBC Private Wealth Group LLC acquired a new position in shares of Firefly Aerospace during the 3rd quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Firefly Aerospace in the third quarter valued at about $55,000. SBI Securities Co. Ltd. acquired a new stake in Firefly Aerospace during the third quarter worth about $74,000. Finally, Sandia Investment Management LP purchased a new position in Firefly Aerospace during the third quarter worth about $147,000.

About Firefly Aerospace

(Get Free Report)

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.

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