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FLY · Analysis updated Nov 6, 2026, 4:45 PM ET
Why is Firefly Aerospace Inc (listed as FLY) (FLY) stock moving?
The ticker FLY now refers to Firefly Aerospace (NASDAQ: FLY), not the old FLY Leasing, which Carlyle acquired in 2021. The stock is under heavy pressure. It closed at $15.18 on Nov 5, down 11.6% on 5.29M shares, the heaviest volume in the 30-day window and a new 52-week low. The decline looks sector-driven rather than company-specific. KeyBanc and B.Riley both cut price targets, citing multiple compression, rising rates and election overhang, but both kept positive ratings. Fundamentals are mixed. TTM revenue is up about 179% to $287M, but net loss is $370M. Liquidity is about $940M, and the company holds more cash than debt. Alpha Flights 8 and 9 are targeted for Q4. A pre-market bounce on Nov 6 shows volatility is high. Q3 earnings on Nov 10 are the next catalyst, with consensus near $102M revenue and -$78M EBITDA. The stock is trading below its 200-day average, and momentum is negative.
News behind the analysis
- B.Riley cuts Firefly Aerospace stock price target on valuationB.Riley cut its target to $40 from $50 and kept a Buy rating. Q3 results are due Nov 10, with B.Riley modeling $103M revenue and -$73M EBITDA.
- KeyBanc cuts Firefly Aerospace stock price target on sector pressuresKeyBanc cut its target to $35 from $50 and kept Overweight. It cited sector multiple compression, election overhang and rising rates. Alpha Flights 8 and 9 are still targeted for Q4 2026, and liquidity was about $940M at the end of Q2.
- Why Did Firefly Aerospace Stock Just Crash?Shares fell about 10% on Oct 30 with no clear company-specific bad news or analyst downgrade.
- Firefly Aerospace Landed on the Moon, Won a Pentagon Contract, and Partnered With Lockheed Martin. So Why Is the Stock Down 70%?The stock is down about 70% from its one-year high, which the article blames on sector trends and expanding losses. It trades at about 6.9x forward sales.
- Firefly Aerospace Is 75% Below Its High. Here's Why the Company That Landed on the Moon Is My Favorite Space Stock Under $20The stock is about 75% below its Aug 2025 all-time high of $73.80. The article cites triple-digit revenue growth and a growing book of government contracts.
- Firefly Aerospace (FLY) Stock Price, Chart & NewsFLY closed at $15.18 on Nov 5, down 11.57%, on volume of 5.29M. It showed a pre-market rebound on Nov 6. Q3 earnings are due Nov 10, and the average analyst price target is $36.64.
- FLY Stock Quote Price and ForecastFLY trades near the bottom of its 52-week range and below its 200-day moving average. It closed at $15.18 on Nov 5.