Jefferies Downgrades York Space Systems on Delayed EBITDA Path

York Space Systems, Inc. (NYSE: YSS) shares fell 11.6% on Nov. 13 to an intraday low of $5.13 after the company posted a larger-than-expected third-quarter loss. The price marked a 52-week intraday low. Revenue declined 7% from a year earlier, and York wrote down $749.7 million in goodwill.

Jefferies separately downgraded York, pointing to a delayed path to positive earnings before interest, taxes, depreciation and amortization (EBITDA).