Shares of Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $15.99 and last traded at $16.6520, with a volume of 740,241 shares changing hands. The stock had previously closed at $17.02.
Analyst Ratings Changes
FLY has been the topic of several recent research reports. Barclays began coverage on Firefly Aerospace in a research report on Friday, October 9th. They set an “equal weight” rating and a $34.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. B. Riley Financial decreased their price objective on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Jefferies Financial Group set a $35.00 price objective on Firefly Aerospace in a report on Wednesday, August 12th. Finally, Roth Capital dropped their price objective on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Firefly Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $36.58.
Read Our Latest Report on Firefly Aerospace
Firefly Aerospace Stock Up 1.5%
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm had revenue of $117.68 million during the quarter. During the same quarter last year, the firm earned ($5.78) earnings per share. The firm’s revenue for the quarter was up 659.2% on a year-over-year basis. On average, analysts forecast that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Firefly Aerospace
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Firefly Aerospace in the 2nd quarter worth approximately $173,573,000. Van ECK Associates Corp boosted its stake in Firefly Aerospace by 43.8% in the second quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock worth $89,621,000 after buying an additional 927,804 shares in the last quarter. Tema ETFs LLC grew its position in Firefly Aerospace by 133,440.2% during the second quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock valued at $67,057,000 after acquiring an additional 2,279,159 shares during the last quarter. Tidal Investments LLC bought a new position in Firefly Aerospace during the second quarter valued at approximately $63,714,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Firefly Aerospace during the second quarter valued at approximately $14,280,000.
Firefly Aerospace Company Profile
Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.
Firefly’s primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.
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