Firefly Aerospace, Inc. (NASDAQ:FLY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.8182.

Several equities analysts recently weighed in on FLY shares. Wells Fargo & Company initiated coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price for the company. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday. B. Riley Financial reduced their target price on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Roth Capital cut their price target on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th.

Institutional Investors Weigh In On Firefly Aerospace

A number of hedge funds have recently bought and sold shares of FLY. Tidal Investments LLC bought a new stake in shares of Firefly Aerospace in the 2nd quarter worth about $63,714,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace in the 2nd quarter valued at about $56,000. Arizona State Retirement System grew its position in Firefly Aerospace by 76.7% in the second quarter. Arizona State Retirement System now owns 15,462 shares of the company’s stock worth $455,000 after acquiring an additional 6,714 shares in the last quarter. Corient Private Wealth LP purchased a new position in Firefly Aerospace in the second quarter worth about $742,000. Finally, HighTower Advisors LLC bought a new stake in Firefly Aerospace during the second quarter worth approximately $211,000.

Firefly Aerospace Stock Down 3.5%

NASDAQ FLY opened at $20.97 on Friday. Firefly Aerospace has a 12 month low of $16.00 and a 12 month high of $62.17. 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 stock has a market cap of $3.51 billion and a PE ratio of -7.13. The stock’s 50 day moving average is $22.19 and its 200 day moving average is $29.35.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned ($5.78) EPS. The company’s quarterly revenue was up 659.2% on a year-over-year basis. Research analysts predict that Firefly Aerospace will post -2.31 EPS for the current fiscal year.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.