Firefly Aerospace (NASDAQ:FLY) Shares Up 12.1% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price traded up 12.1% on Friday . The company traded as high as $47.19 and last traded at $48.0550. 2,044,817 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 5,118,433 shares. The stock had previously closed at $42.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley Financial assumed coverage on Firefly Aerospace in a research report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 target price for the company. Jefferies Financial Group boosted their target price on Firefly Aerospace from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Weiss Ratings lowered Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Six investment 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’s stock. According to MarketBeat, Firefly Aerospace has an average rating of “Hold” and an average target price of $40.56.

Firefly Aerospace Trading Up 15.5%

The stock has a 50 day moving average of $34.40 and a 200-day moving average of $26.78. The company has a market capitalization of $7.93 billion and a P/E ratio of -6.07. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The company had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The company’s revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($5.09) earnings per share. On average, research analysts predict that Firefly Aerospace, Inc. will post -1.81 EPS for the current year.

Insider Activity

In related news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel directly owned 142,758 shares in the company, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. WCM Investment Management LLC bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at approximately $19,386,000. TD Asset Management Inc bought a new position in Firefly Aerospace in the 3rd quarter worth approximately $4,353,000. LBP AM SA boosted its stake in Firefly Aerospace by 265.5% in the 4th quarter. LBP AM SA now owns 223,855 shares of the company’s stock worth $5,008,000 after purchasing an additional 162,617 shares during the period. Liontrust Investment Partners LLP bought a new position in Firefly Aerospace in the 3rd quarter worth approximately $1,790,000. Finally, Hudson Bay Capital Management LP bought a new position in Firefly Aerospace in the 3rd quarter worth approximately $50,711,000.

About Firefly Aerospace

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.