K.J. Harrison & Partners Inc Invests $1.32 Million in Firefly Aerospace, Inc. $FLY

K.J. Harrison & Partners Inc bought a new stake in Firefly Aerospace, Inc. (NASDAQ:FLY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,000 shares of the company’s stock, valued at approximately $1,323,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Firefly Aerospace by 233.6% in the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after acquiring an additional 1,241,987 shares during the period. Huntleigh Advisors Inc. bought a new stake in shares of Firefly Aerospace during the fourth quarter valued at approximately $1,013,000. Quantinno Capital Management LP acquired a new position in shares of Firefly Aerospace in the first quarter valued at $1,431,000. Royal Bank of Canada lifted its position in Firefly Aerospace by 1,803.9% in the first quarter. Royal Bank of Canada now owns 225,782 shares of the company’s stock worth $6,428,000 after purchasing an additional 213,923 shares during the period. Finally, Tema ETFs LLC boosted its stake 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Firefly Aerospace from a “strong sell” rating to a “sell” rating in a report on Saturday. 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 on the stock. Roth Capital cut their price target on shares of Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. Finally, Morgan Stanley upped their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.82.

Firefly Aerospace Trading Up 1.9%

Shares of FLY opened at $27.18 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $4.55 billion and a price-to-earnings ratio of -9.24. The stock has a fifty day moving average price of $25.61 and a two-hundred day moving average price of $29.42. Firefly Aerospace, Inc. has a 52-week low of $16.00 and a 52-week high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share 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 revenue was up 659.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($5.78) earnings per share. Analysts predict that Firefly Aerospace, Inc. will post -1.91 EPS for the current fiscal year.

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.