Firefly Aerospace (NASDAQ:FLY) Now Covered by Barclays

Analysts at Barclays began coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a report released on Friday, Briefing.com reports. The firm set an “equal weight” rating and a $34.00 price target on the stock. Barclays‘s price target would suggest a potential upside of 64.49% from the company’s previous close.

FLY has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Roth Capital cut their price target on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Wells Fargo & Company assumed coverage on Firefly Aerospace in a research report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective for the company. KeyCorp raised Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price on the stock in a report on Monday, June 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. Seven 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, Firefly Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.58.

Firefly Aerospace Stock Performance

Shares of Firefly Aerospace stock opened at $20.67 on Friday. Firefly Aerospace has a 12 month low of $16.00 and a 12 month high of $62.17. The firm has a market capitalization of $3.46 billion, a P/E ratio of -7.03 and a beta of 0.59. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $29.49.

Firefly Aerospace (NASDAQ:FLY) last released its 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. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm had revenue of $117.68 million for the quarter. During the same period in the prior year, the company earned ($5.78) earnings per share. The firm’s quarterly revenue was up 659.2% compared to the same quarter last year. On average, equities analysts forecast that Firefly Aerospace will post -2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLY. BlackRock Inc. purchased a new stake in shares of Firefly Aerospace during the second quarter valued at $173,573,000. Van ECK Associates Corp raised its position in Firefly Aerospace by 43.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock worth $89,621,000 after buying an additional 927,804 shares during the last quarter. Tema ETFs LLC lifted its stake in Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock valued at $67,057,000 after acquiring an additional 2,279,159 shares during the period. Tidal Investments LLC purchased a new stake in shares of Firefly Aerospace during the 2nd quarter valued at about $63,714,000. Finally, Temasek Holdings Private Ltd grew its stake in shares of Firefly Aerospace by 151.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock worth $23,927,000 after acquiring an additional 643,886 shares during the period.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.

Firefly’s primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.