Firefly Aerospace (NASDAQ:FLY) Shares Up 6.2% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price shot up 6.2% during trading on Monday . The company traded as high as $34.25 and last traded at $34.9750. 2,283,761 shares traded hands during trading, a decline of 46% from the average session volume of 4,224,787 shares. The stock had previously closed at $32.93.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLY. Cantor Fitzgerald decreased their price objective on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 26th. The Goldman Sachs Group boosted their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. UBS Group set a $33.00 target price on Firefly Aerospace in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. Finally, Morgan Stanley reissued a “positive” rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Firefly Aerospace has a consensus rating of “Moderate Buy” and an average target price of $35.13.

Firefly Aerospace Trading Up 2.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 4.51. The stock has a market capitalization of $5.69 billion and a price-to-earnings ratio of -3.87. The business has a 50 day simple moving average of $23.67 and a 200-day simple moving average of $24.81.

Firefly Aerospace (NASDAQ:FLY) last posted its earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The firm had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.Firefly Aerospace’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Firefly Aerospace in the third quarter valued at about $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the third quarter valued at about $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at about $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at about $38,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at about $38,000.

Firefly Aerospace Company Profile

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.