Shares of Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $40.43, but opened at $43.31. Firefly Aerospace shares last traded at $45.1290, with a volume of 2,958,522 shares trading hands.
Analysts Set New Price Targets
A number of research firms recently commented on FLY. The Goldman Sachs Group boosted their price target on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. B. Riley Financial began coverage on Firefly Aerospace in a report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 price target on the stock. UBS Group set a $33.00 price target on Firefly Aerospace in a report on Thursday, March 12th. Jefferies Financial Group boosted their price target on Firefly Aerospace from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 price target on shares of Firefly Aerospace in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Firefly Aerospace presently has an average rating of “Hold” and a consensus price target of $40.56.
Check Out Our Latest Analysis on FLY
Firefly Aerospace Trading Up 8.3%
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($5.09) EPS. On average, research analysts expect that Firefly Aerospace, Inc. will post -1.81 EPS for the current fiscal year.
Insider Activity
In related news, General Counsel David Leigh Wheeler sold 3,766 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.04, for a total transaction of $169,620.64. Following the completion of the sale, the general counsel directly owned 142,758 shares in the company, valued at $6,429,820.32. This represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in FLY. BNP Paribas Financial Markets purchased a new position in shares of Firefly Aerospace in the third quarter worth about $26,000. CIBC Private Wealth Group LLC acquired a new stake in Firefly Aerospace during the third quarter worth about $26,000. California State Teachers Retirement System acquired a new stake in Firefly Aerospace during the fourth quarter worth about $30,000. NBC Securities Inc. acquired a new stake in Firefly Aerospace during the fourth quarter worth about $38,000. Finally, KBC Group NV acquired a new stake in Firefly Aerospace during the first quarter valued at $38,000.
Firefly Aerospace Company Profile
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.
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