Firefly Aerospace, Inc. (NASDAQ:FLY – Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $15.18, but opened at $17.11. Firefly Aerospace shares last traded at $17.5150, with a volume of 1,627,543 shares changing hands.
Analyst Ratings Changes
A number of research firms have recently weighed in on FLY. Wells Fargo & Company started coverage on Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price for the company. Jefferies Financial Group set a $35.00 target price on shares of Firefly Aerospace in a research report on Wednesday, August 12th. B. Riley Financial decreased their price target on shares of Firefly Aerospace from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.50.
Check Out Our Latest Research Report on FLY
Firefly Aerospace Stock Up 23.5%
The firm’s 50-day moving average price is $20.34 and its 200 day moving average price is $26.87. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -6.28 and a beta of 0.84. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02.
Firefly Aerospace (NASDAQ:FLY – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The company had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The business’s revenue was up 659.2% on a year-over-year basis. During the same period last year, the company posted ($5.78) EPS. On average, sell-side analysts forecast that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Firefly Aerospace
Several institutional investors and hedge funds have recently added to or reduced their stakes in FLY. BlackRock Inc. acquired a new stake in shares of Firefly Aerospace in the 2nd quarter valued at $173,573,000. Van ECK Associates Corp increased its stake in shares of Firefly Aerospace by 43.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock valued at $89,621,000 after purchasing an additional 927,804 shares during the last quarter. Tema ETFs LLC raised its holdings in shares of Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after buying an additional 2,279,159 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Firefly Aerospace during the 2nd quarter worth $63,714,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Firefly Aerospace during the 3rd quarter worth $23,354,000.
About Firefly Aerospace
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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