Firefly Aerospace (NASDAQ:FLY) Stock Price Target Cut by Jefferies Financial Group

Firefly Aerospace (NASDAQ:FLY) had its target price dropped by Jefferies Financial Group from $35.00 to $30.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group‘s price objective indicates a potential upside of 19.00% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Barclays boosted their target price on shares of Firefly Aerospace from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. B. Riley Financial upped their target price on shares of Firefly Aerospace from $40.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, KeyCorp dropped their price target on shares of Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Firefly Aerospace has an average rating of “Moderate Buy” and an average target price of $35.33.

Firefly Aerospace Stock Down 0.4%

NASDAQ:FLY traded down $0.10 on Friday, hitting $25.21. The stock had a trading volume of 3,391,121 shares, compared to its average volume of 4,058,145. The business’s fifty day moving average is $20.71 and its 200 day moving average is $26.73. The company has a market cap of $4.33 billion, a PE ratio of -12.61 and a beta of 0.84. The company has a quick ratio of 2.73, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. Firefly Aerospace has a 52 week low of $14.44 and a 52 week high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. Firefly Aerospace had a negative return on equity of 24.96% and a negative net margin of 88.37%. The firm had revenue of $110.68 million during the quarter, compared to the consensus estimate of $106.40 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was up 259.4% on a year-over-year basis. On average, equities research analysts expect that Firefly Aerospace will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Firefly Aerospace by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 9,511 shares of the company’s stock valued at $220,000 after acquiring an additional 567 shares during the last quarter. Carlson Financial Inc. lifted its holdings in Firefly Aerospace by 8.8% during the second quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock worth $241,000 after acquiring an additional 667 shares during the period. KBC Group NV bought a new stake in Firefly Aerospace during the first quarter worth $38,000. Gabelli Funds LLC boosted its position in Firefly Aerospace by 10.7% in the third quarter. Gabelli Funds LLC now owns 13,916 shares of the company’s stock worth $322,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its position in Firefly Aerospace by 8.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 19,412 shares of the company’s stock worth $449,000 after purchasing an additional 1,442 shares during the last quarter.

About Firefly Aerospace

Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.