Firefly Aerospace (NASDAQ:FLY) Trading Down 11.5% Following Analyst Downgrade

Firefly Aerospace, Inc. (NASDAQ:FLY) shares fell 11.5% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $52.00 to $27.00. Morgan Stanley currently has an equal weight rating on the stock. Firefly Aerospace traded as low as $20.21 and last traded at $20.3130. 1,271,706 shares changed hands during trading, a decline of 34% from the average session volume of 1,916,360 shares. The stock had previously closed at $22.95.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald initiated coverage on shares of Firefly Aerospace in a research note on Tuesday, September 2nd. They issued an “overweight” rating and a $65.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They set an “overweight” rating and a $55.00 price objective on the stock. Roth Capital dropped their price target on Firefly Aerospace from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued a “neutral” rating and a $54.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.86.

Institutional Trading of Firefly Aerospace

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace in the third quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Firefly Aerospace during the third quarter valued at $55,000. SBI Securities Co. Ltd. bought a new position in shares of Firefly Aerospace in the 3rd quarter worth approximately $74,000. Sandia Investment Management LP bought a new position in Firefly Aerospace in the third quarter worth approximately $147,000. Finally, Armistice Capital LLC purchased a new position in Firefly Aerospace during the third quarter valued at $201,000.

Firefly Aerospace Stock Down 15.1%

The company’s 50 day moving average is $30.59.

Firefly Aerospace (NASDAQ:FLY) last released 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 company had revenue of $30.78 million during the quarter, compared to analysts’ expectations of $28.93 million. Firefly Aerospace’s revenue was up 37.5% compared to the same quarter last year. Firefly Aerospace has set its FY 2025 guidance at EPS.

Firefly Aerospace Company Profile

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.