Firefly Aerospace (NASDAQ:FLY) Stock Rated Equal Weight in New Coverage at Barclays

Barclays started coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $34.00 price objective on the stock.

Several other analysts have also issued reports on the company. Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company started coverage on Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, KeyCorp upgraded Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research note on Monday, June 15th. 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. According to MarketBeat.com, Firefly Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $36.58.

Firefly Aerospace Stock Performance

Shares of NASDAQ:FLY opened at $20.00 on Friday. The company’s 50-day moving average price is $22.94 and its two-hundred day moving average price is $29.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. Firefly Aerospace has a one year low of $16.00 and a one year high of $62.17. The stock has a market capitalization of $3.35 billion, a PE ratio of -6.80 and a beta of 0.59.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The company had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The company’s quarterly revenue was up 659.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($5.78) earnings per share. On average, equities analysts forecast that Firefly Aerospace will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.