Firefly Aerospace (NASDAQ:FLY) Shares Climb 7% – Should You Buy?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) were up 7% during mid-day trading on Wednesday. The company traded as high as $17.34 and last traded at $17.4450. Approximately 280,505 shares traded hands during trading, a decline of 94% from the average session volume of 4,912,957 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. B. Riley Financial cut their target price on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Wall Street Zen lowered shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Wells Fargo & Company started coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 target price for the company. Seven equities research 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 an average rating of “Moderate Buy” and an average target price of $36.58.

Firefly Aerospace Trading Up 6.1%

The firm has a market capitalization of $2.90 billion, a P/E ratio of -5.89 and a beta of 0.59. The business has a 50-day moving average price of $21.96 and a 200-day moving average price of $29.03. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results 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 period last year, the firm earned ($5.78) EPS. The company’s quarterly revenue was up 659.2% compared to the same quarter last year. Analysts anticipate that Firefly Aerospace, Inc. will post -2.31 earnings per share for the current year.

Institutional Trading of Firefly Aerospace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLY. Farther Finance Advisors LLC lifted its holdings in Firefly Aerospace by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,511 shares of the company’s stock valued at $220,000 after purchasing an additional 567 shares during the last quarter. Carlson Financial Inc. grew its stake in Firefly Aerospace by 8.8% during the second quarter. Carlson Financial Inc. now owns 8,211 shares of the company’s stock worth $241,000 after buying an additional 667 shares during the last quarter. KBC Group NV acquired a new stake in shares of Firefly Aerospace during the first quarter worth approximately $38,000. Avidian Wealth Enterprises LLC increased its holdings in shares of Firefly Aerospace by 8.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 19,412 shares of the company’s stock worth $449,000 after buying an additional 1,442 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Firefly Aerospace by 12.6% in the third quarter. Vontobel Holding Ltd. now owns 15,830 shares of the company’s stock valued at $366,000 after acquiring an additional 1,775 shares during the last quarter.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.