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

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) gapped down before the market opened on Tuesday . The stock had previously closed at $33.41, but opened at $31.45. Firefly Aerospace shares last traded at $31.5710, with a volume of 1,918,864 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Roth Capital reissued a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. JPMorgan Chase & Co. dropped their target price on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. KeyCorp initiated coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They issued a “sector weight” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.71.

Firefly Aerospace Trading Down 9.2%

The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.83 billion and a P/E ratio of -4.17. The company has a 50 day moving average of $22.67.

Firefly Aerospace (NASDAQ:FLY) last announced 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 business had revenue of $30.78 million for the quarter, compared to analyst estimates of $28.93 million. The business’s revenue for the quarter was up 37.5% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

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

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.