Firefly Aerospace (NASDAQ:FLY) Shares Down 8.2% – Time to Sell?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares were down 8.2% during mid-day trading on Wednesday . The company traded as low as $31.80 and last traded at $31.4050. Approximately 504,421 shares were traded during trading, a decline of 90% from the average daily volume of 4,804,829 shares. The stock had previously closed at $34.22.

Wall Street Analyst Weigh In

Several analysts have recently commented on FLY shares. Cantor Fitzgerald lowered their target price on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Roth Mkm upped their price objective on shares of Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Morgan Stanley reissued a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Weiss Ratings downgraded Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group increased their price target on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Firefly Aerospace Price Performance

The firm has a market cap of $5.54 billion and a PE ratio of -3.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 4.51. The business’s fifty day moving average is $28.90 and its 200-day moving average is $25.52.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The firm had revenue of $57.67 million during the quarter. Firefly Aerospace’s quarterly revenue was up 541.1% on a year-over-year basis. On average, research analysts predict that Firefly Aerospace, Inc. will post -1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.04, for a total value of $169,620.64. Following the completion of the sale, the general counsel directly owned 142,758 shares of the company’s stock, valued at $6,429,820.32. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AE Industrial Partners LP bought a new stake in Firefly Aerospace in the 3rd quarter valued at about $1,063,863,000. Vanguard Group Inc. bought a new position in Firefly Aerospace during the third quarter worth about $53,409,000. Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace in the third quarter worth about $50,711,000. UBS Group AG increased its stake in shares of Firefly Aerospace by 233.6% in the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after purchasing an additional 1,241,987 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Firefly Aerospace in the third quarter valued at approximately $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.