Firefly Aerospace (NASDAQ:FLY) Stock Price Down 6.1% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY) shares were down 6.1% during mid-day trading on Tuesday . The company traded as low as $27.90 and last traded at $27.2830. 1,138,272 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 6,001,816 shares. The stock had previously closed at $29.05.

Wall Street Analyst Weigh In

FLY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $52.00 price objective on shares of Firefly Aerospace in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 7th. Weiss Ratings upgraded shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Finally, KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.20.

Firefly Aerospace Trading Down 3.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.53 and a current ratio of 2.53. The company has a market capitalization of $4.55 billion and a price-to-earnings ratio of -3.48. The firm has a fifty day moving average price of $37.42 and a 200-day moving average price of $30.15.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The business had revenue of $80.88 million during the quarter. During the same period last year, the firm earned ($5.09) EPS. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, equities analysts anticipate that Firefly Aerospace, Inc. will post -1.97 EPS for the current year.

Insider Activity at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the completion of the sale, the general counsel owned 142,758 shares of the company’s stock, valued at approximately $6,429,820.32. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace during the third quarter worth $26,000. CIBC Private Wealth Group LLC bought a new position in shares of Firefly Aerospace in the 3rd quarter valued at $26,000. California State Teachers Retirement System acquired a new position in shares of Firefly Aerospace during the 4th quarter worth $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace during the 4th quarter worth $38,000. Finally, KBC Group NV bought a new stake in shares of Firefly Aerospace during the 1st quarter worth $38,000.

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.