Firefly Aerospace (NASDAQ:FLY) Trading Up 8.6% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price was up 8.6% during mid-day trading on Friday . The company traded as high as $34.01 and last traded at $32.2940. Approximately 1,965,864 shares were traded during trading, a decline of 44% from the average daily volume of 3,506,532 shares. The stock had previously closed at $29.75.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $33.00 target price on Firefly Aerospace in a research note on Friday. KeyCorp started coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They issued a “sector weight” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of Firefly Aerospace from a “hold” rating to a “buy” rating and cut their target price for the company from $40.00 to $30.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. decreased their price target on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.29.

Firefly Aerospace Stock Performance

The firm has a 50-day moving average price of $22.39. The company has a market capitalization of $5.32 billion and a PE ratio of -4.59. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03.

Firefly Aerospace (NASDAQ:FLY) last issued its earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $30.78 million during the quarter, compared to analysts’ expectations of $28.93 million. The firm’s revenue was up 37.5% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the 3rd quarter valued at about $26,000. CIBC Private Wealth Group LLC purchased a new stake in Firefly Aerospace during the 3rd quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at $55,000. SBI Securities Co. Ltd. purchased a new position in shares of Firefly Aerospace in the 3rd quarter worth $74,000. Finally, Sandia Investment Management LP purchased a new stake in Firefly Aerospace during the third quarter valued at $147,000.

About Firefly Aerospace

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.