Morgan Stanley Cuts Firefly Aerospace (NASDAQ:FLY) Price Target to $27.00

Firefly Aerospace (NASDAQ:FLY) had its target price trimmed by Morgan Stanley from $52.00 to $27.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on FLY. The Goldman Sachs Group began coverage on shares of Firefly Aerospace in a research report on Tuesday, September 2nd. They issued a “neutral” rating and a $54.00 price objective on the stock. Zacks Research raised shares of Firefly Aerospace to a “hold” rating in a report on Thursday, September 4th. Jefferies Financial Group upgraded shares of Firefly Aerospace to a “strong-buy” rating in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Firefly Aerospace from a “hold” rating to a “buy” rating and cut their target price for the stock from $40.00 to $30.00 in a research report on Thursday, November 13th. Finally, Roth Capital reduced their target price on Firefly Aerospace from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four 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, Firefly Aerospace has an average rating of “Moderate Buy” and a consensus target price of $45.86.

Firefly Aerospace Trading Down 1.7%

Shares of FLY stock opened at $19.42 on Monday. Firefly Aerospace has a 52-week low of $18.21 and a 52-week high of $73.80. The stock has a fifty day simple moving average of $29.63.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $30.78 million during the quarter, compared to the consensus estimate of $28.93 million. The business’s quarterly revenue was up 37.5% on a year-over-year basis. Firefly Aerospace has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

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

About Firefly Aerospace

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.