Firefly Aerospace (NASDAQ:FLY) Announces Quarterly Earnings Results

Firefly Aerospace (NASDAQ:FLY) issued its quarterly earnings data on Tuesday. The company reported ($0.45) EPS for the quarter, FiscalAI reports. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The company had revenue of $110.68 million during the quarter.

Firefly Aerospace Stock Down 2.5%

Shares of FLY traded down $0.61 during trading hours on Tuesday, hitting $23.70. The company had a trading volume of 5,458,512 shares, compared to its average volume of 4,878,254. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -8.06 and a beta of 0.84. The firm has a fifty day moving average price of $20.37 and a 200-day moving average price of $26.80. Firefly Aerospace has a 52-week low of $14.44 and a 52-week high of $62.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73.

Analyst Ratings Changes

FLY has been the subject of a number of research reports. Wells Fargo & Company started coverage on Firefly Aerospace in a report on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price objective for the company. Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley Financial reduced their target price on shares of Firefly Aerospace from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Firefly Aerospace in a research note on Friday. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Firefly Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Key Stories Impacting Firefly Aerospace

Here are the key news stories impacting Firefly Aerospace this week:

• Positive Sentiment: Firefly signed a multi-launch agreement with Japan’s Synspective for up to 10 Alpha rocket launches through 2030. Each mission is planned to carry two SAR satellites, creating a possible stream of launch business, though the agreement is for “up to” 10 missions. Synspective launch agreement
• Positive Sentiment: NASA selected Firefly as a vendor for its Commercial Lunar Payload Services 2 indefinite-delivery contract, adding a route to compete for future lunar delivery work. The selection is not, by itself, a guarantee of specific mission awards or revenue. NASA CLPS 2 selection
• Positive Sentiment: Recent coverage also highlighted a reported $1.3 billion AST SpaceMobile engine deal and Firefly’s participation in NASA’s lunar delivery program, developments that helped drive a substantial prior-session rally. AST SpaceMobile deal coverage
• Neutral Sentiment: Analysts were revising forecasts ahead of the quarterly report, with coverage pointing to the possibility of higher year-over-year revenue. The results and outlook were still pending. Analyst forecasts ahead of earnings
• Negative Sentiment: Shares declined ahead of earnings, suggesting investors may be cautious about the report or taking a wait-and-see approach after the recent sharp advance. The actual results and management’s guidance could determine the next move. Shares move ahead of earnings

Institutional Trading of Firefly Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new stake in shares of Firefly Aerospace during the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC purchased a new position in shares of Firefly Aerospace in the second quarter worth $56,000. Sterling Capital Management LLC raised its stake in shares of Firefly Aerospace by 848.9% in the third quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock worth $62,000 after purchasing an additional 2,377 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Firefly Aerospace by 398.0% during the first quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock valued at $84,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new position in shares of Firefly Aerospace during the second quarter valued at $103,000.

Firefly Aerospace Company Profile

Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.