Firefly Aerospace (NASDAQ:FLY) Shares Down 6.9% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) fell 6.9% during trading on Tuesday . The stock traded as low as $18.81 and last traded at $19.3170. 1,461,868 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 3,139,964 shares. The stock had previously closed at $20.75.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLY. Deutsche Bank Aktiengesellschaft raised shares of Firefly Aerospace from a “hold” rating to a “buy” rating and cut their price target for the stock from $40.00 to $30.00 in a report on Thursday, November 13th. KeyCorp started coverage on Firefly Aerospace in a report on Thursday, December 18th. They set a “sector weight” rating on the stock. Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a research report on Friday, January 16th. Roth Mkm restated a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.71.

Firefly Aerospace Trading Up 6.2%

The stock’s 50 day moving average is $24.36 and its 200-day moving average is $27.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.20 and a quick ratio of 6.20. The company has a market capitalization of $3.28 billion and a P/E ratio of -2.83.

Institutional Investors Weigh In On Firefly Aerospace

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in Firefly Aerospace in the third quarter worth $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace during the 3rd quarter valued at $26,000. California State Teachers Retirement System purchased a new stake in shares of Firefly Aerospace in the 4th quarter worth about $30,000. Russell Investments Group Ltd. bought a new position in shares of Firefly Aerospace in the 4th quarter worth about $38,000. Finally, NBC Securities Inc. bought a new position in shares of Firefly Aerospace in the 4th quarter worth about $38,000.

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.