Firefly Aerospace (NASDAQ:FLY) Shares Gap Down – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $29.76, but opened at $27.56. Firefly Aerospace shares last traded at $30.4990, with a volume of 845,246 shares.

Analyst Upgrades and Downgrades

FLY has been the topic of several recent analyst reports. KeyCorp started coverage on Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. UBS Group set a $33.00 price target on Firefly Aerospace in a report on Thursday, March 12th. Finally, The Goldman Sachs Group increased their price target on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.13.

Firefly Aerospace Stock Performance

The company has a market cap of $5.27 billion and a P/E ratio of -3.58. The stock has a 50 day moving average price of $23.36 and a two-hundred day moving average price of $25.21. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.24.

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

Institutional Investors Weigh In On Firefly Aerospace

Several institutional investors have recently made changes to their positions in FLY. Rockefeller Capital Management L.P. acquired a new stake in Firefly Aerospace during the fourth quarter worth approximately $136,000. Caitong International Asset Management Co. Ltd raised its stake in Firefly Aerospace by 140.2% in 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 lifted 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 worth $332,000 after purchasing an additional 7,556 shares during the period. Invesco Ltd. bought a new stake in Firefly Aerospace during the fourth quarter worth about $11,607,000. Finally, VARCOV Co. bought a new position in Firefly Aerospace in the 4th quarter valued at about $262,000.

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.