Firefly Aerospace (NASDAQ:FLY) Stock Price Down 8.3% – What’s Next?
by Danessa Lincoln · The Markets DailyFirefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) shares dropped 8.3% during trading on Wednesday . The stock traded as low as $21.43 and last traded at $21.0950. Approximately 618,978 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,572,395 shares. The stock had previously closed at $23.00.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on FLY. KeyCorp started coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Roth Mkm reaffirmed a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. The Goldman Sachs Group raised their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Finally, Morgan Stanley set a $33.00 price objective on shares of Firefly Aerospace in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Firefly Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.
Check Out Our Latest Analysis on FLY
Firefly Aerospace Stock Performance
The company’s 50-day moving average price is $25.20. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03.
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The business had revenue of $30.78 million for the quarter, compared to analyst estimates of $28.93 million. Firefly Aerospace’s revenue was up 37.5% compared to the same quarter last year.
Hedge Funds Weigh In On Firefly Aerospace
Hedge funds have recently modified their holdings of the stock. AE Industrial Partners LP purchased a new stake in shares of Firefly Aerospace during the third quarter valued at $1,063,863,000. Vanguard Group Inc. acquired a new stake in Firefly Aerospace during the 3rd quarter worth about $53,409,000. Hudson Bay Capital Management LP acquired a new stake in Firefly Aerospace during the 3rd quarter worth about $50,711,000. UBS Group AG lifted its stake in Firefly Aerospace by 233.6% during the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after buying an additional 1,241,987 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Firefly Aerospace in the third quarter worth about $35,337,000.
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.