Firefly Aerospace (NASDAQ:FLY) Trading Up 8.2% – Here’s Why

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) were up 8.2% on Monday . The stock traded as high as $28.07 and last traded at $27.6290. 971,780 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 5,989,930 shares. The stock had previously closed at $25.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp raised shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $52.00 target price on shares of Firefly Aerospace in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Firefly Aerospace from a “strong sell” rating to a “sell” rating in a report on Sunday, June 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.20.

Firefly Aerospace Stock Performance

The firm has a market capitalization of $4.71 billion and a PE ratio of -3.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.53 and a current ratio of 2.53. The company’s fifty day moving average price is $37.70 and its two-hundred day moving average price is $30.11.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results 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. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The firm had revenue of $80.88 million during the quarter. During the same quarter in the previous year, the firm posted ($5.09) earnings per share. Firefly Aerospace’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, equities analysts expect that Firefly Aerospace, Inc. will post -1.97 earnings per share for the current year.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $45.12, for a total transaction of $169,876.80. Following the completion of the sale, the general counsel directly owned 142,758 shares of the company’s stock, valued at $6,441,240.96. The trade was a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new position in shares of Firefly Aerospace during the 3rd quarter valued at $4,353,000. LBP AM SA increased its holdings in Firefly Aerospace by 265.5% in the 4th quarter. LBP AM SA now owns 223,855 shares of the company’s stock valued at $5,008,000 after purchasing an additional 162,617 shares in the last quarter. Liontrust Investment Partners LLP purchased a new position in Firefly Aerospace in the third quarter valued at about $1,790,000. Hudson Bay Capital Management LP acquired a new position in shares of Firefly Aerospace during the third quarter worth about $50,711,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Firefly Aerospace in the third quarter worth about $19,899,000.

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.