Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Firefly Aerospace, Inc. (NASDAQ:FLY – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,008,816 shares of the company’s stock, valued at approximately $23,354,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.60% of Firefly Aerospace at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FLY. KBC Group NV purchased a new position in Firefly Aerospace in the first quarter worth $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of Firefly Aerospace during the 2nd quarter worth $56,000. Sterling Capital Management LLC increased its holdings in shares of Firefly Aerospace by 848.9% in the 3rd quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock valued at $62,000 after purchasing an additional 2,377 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Firefly Aerospace in the second quarter valued at about $103,000.
Firefly Aerospace Stock Down 9.1%
Firefly Aerospace stock opened at $16.29 on Tuesday. Firefly Aerospace, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $62.17. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -5.54 and a beta of 0.59. The stock’s fifty day moving average is $20.71 and its two-hundred day moving average is $27.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73.
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.08. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The business had revenue of $117.68 million during the quarter. During the same period last year, the firm earned ($5.78) EPS. The company’s quarterly revenue was up 659.2% compared to the same quarter last year. Analysts predict that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
FLY has been the topic of a number of research analyst reports. KeyCorp decreased their price objective on shares of Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday. Wall Street Zen cut shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Wells Fargo & Company began coverage on shares of Firefly Aerospace in a report on Monday, July 27th. They issued an “equal weight” rating and a $25.00 target price for the company. B. Riley Financial reduced their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Tuesday, September 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Firefly Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.
Read Our Latest Analysis on Firefly Aerospace
Firefly Aerospace Company Profile
Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.
Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.
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