Firefly Aerospace (NASDAQ:FLY) Research Coverage Started at B. Riley Financial

B. Riley Financial assumed coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $60.00 price objective on the stock.

A number of other research analysts have also commented on FLY. Roth Mkm boosted their price target on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen raised Firefly Aerospace from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Cantor Fitzgerald decreased their target price on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Finally, Jefferies Financial Group lifted their price target on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.56.

Firefly Aerospace Trading Up 22.6%

Shares of Firefly Aerospace stock opened at $39.68 on Wednesday. The company’s 50-day moving average price is $29.66 and its 200-day moving average price is $25.56. The company has a current ratio of 2.53, a quick ratio of 4.51 and a debt-to-equity ratio of 0.02. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The company has a market cap of $6.36 billion and a price-to-earnings ratio of -4.87.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. Firefly Aerospace’s revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($5.09) EPS. On average, equities analysts expect that Firefly Aerospace will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of Firefly Aerospace stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the completion of the sale, the general counsel directly owned 142,758 shares of the company’s stock, valued at approximately $6,429,820.32. The trade was a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

A number of large investors have recently added to or reduced their stakes in FLY. Resolute Advisors LLC lifted its stake in Firefly Aerospace by 70.1% during the first quarter. Resolute Advisors LLC now owns 18,200 shares of the company’s stock worth $518,000 after purchasing an additional 7,500 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Firefly Aerospace by 398.0% during the 1st 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 during the last quarter. KBC Group NV purchased a new position in shares of Firefly Aerospace during the 1st quarter valued at about $38,000. Swiss National Bank bought a new stake in Firefly Aerospace in the 1st quarter worth approximately $1,794,000. Finally, Bank of New York Mellon Corp boosted its stake in Firefly Aerospace by 30.7% in the first quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company’s stock worth $2,186,000 after buying an additional 18,022 shares in the last quarter.

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.