Firefly Aerospace (NASDAQ:FLY) Trading Down 11.7% – Here’s What Happened

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) fell 11.7% during mid-day trading on Friday . The company traded as low as $34.69 and last traded at $34.7460. 2,569,833 shares traded hands during trading, a decline of 55% from the average session volume of 5,758,964 shares. The stock had previously closed at $39.37.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLY. UBS Group set a $33.00 price target on shares of Firefly Aerospace in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 7th. Roth Mkm lifted their price target on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings downgraded shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group lifted 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 Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.33.

Firefly Aerospace Price Performance

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 stock has a market capitalization of $5.11 billion and a price-to-earnings ratio of -3.91. The company has a 50-day moving average of $39.77 and a 200-day moving average of $29.16.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $80.88 million during the quarter. During the same quarter in the prior year, the firm earned ($5.09) earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. As a group, equities research analysts expect that Firefly Aerospace, Inc. will post -1.95 earnings per share for the current fiscal year.

Insider Activity

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’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 transaction, the general counsel directly owned 142,758 shares in the company, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. AE Industrial Partners LP acquired a new position in Firefly Aerospace in the 3rd quarter valued at $1,063,863,000. Vanguard Group Inc. acquired a new position in Firefly Aerospace in the 3rd quarter valued at $53,409,000. Hudson Bay Capital Management LP acquired a new position in Firefly Aerospace in the 3rd quarter valued at $50,711,000. UBS Group AG raised its holdings in Firefly Aerospace by 233.6% in the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after acquiring an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors acquired a new position in Firefly Aerospace in the 3rd quarter valued at $35,337,000.

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.