Cantor Fitzgerald Issues Pessimistic Forecast for Firefly Aerospace (NASDAQ:FLY) Stock Price

Firefly Aerospace (NASDAQ:FLY) had its target price reduced by stock analysts at Cantor Fitzgerald from $65.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 47.68% from the stock’s current price.

A number of other research analysts have also commented on FLY. The Goldman Sachs Group boosted their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. UBS Group set a $33.00 price objective on Firefly Aerospace in a research note on Thursday, March 12th. KeyCorp assumed coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Firefly Aerospace has an average rating of “Moderate Buy” and an average price target of $35.13.

Firefly Aerospace Trading Down 11.6%

Shares of Firefly Aerospace stock opened at $23.70 on Thursday. The company’s 50-day moving average price is $23.46 and its 200-day moving average price is $25.70. The company has a current ratio of 4.51, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The company has a market cap of $3.79 billion and a price-to-earnings ratio of -2.58.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.10. The company had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The firm’s quarterly revenue was up 541.1% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new position in Firefly Aerospace in the fourth quarter worth $136,000. Caitong International Asset Management Co. Ltd raised its position in Firefly Aerospace by 140.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 28,689 shares of the company’s stock valued at $642,000 after purchasing an additional 16,745 shares in the last quarter. Virtu Financial LLC raised its position in Firefly Aerospace by 104.0% during the fourth quarter. Virtu Financial LLC now owns 14,824 shares of the company’s stock valued at $332,000 after purchasing an additional 7,556 shares in the last quarter. Invesco Ltd. bought a new stake in Firefly Aerospace during the fourth quarter worth about $11,607,000. Finally, VARCOV Co. purchased a new position in shares of Firefly Aerospace in the 4th quarter worth about $262,000.

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.