Firefly Aerospace (NASDAQ:FLY) Stock Price Up 8.5% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) rose 8.5% during trading on Thursday . The company traded as high as $20.12 and last traded at $20.0960. Approximately 986,094 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,975,261 shares. The stock had previously closed at $18.53.

Analysts Set New Price Targets

Several brokerages have weighed in on FLY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday. Cantor Fitzgerald initiated coverage on Firefly Aerospace in a research note on Tuesday, September 2nd. They issued an “overweight” rating and a $65.00 price objective for the company. Roth Capital restated a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised shares of Firefly Aerospace from a “hold” rating to a “buy” rating and dropped their price target for the company from $40.00 to $30.00 in a research note on Thursday, November 13th. Finally, Wall Street Zen cut shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Firefly Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Firefly Aerospace Price Performance

The stock has a fifty day simple moving average of $22.21.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $30.78 million for the quarter, compared to analyst estimates of $28.93 million. The company’s revenue was up 37.5% on a year-over-year basis.

Institutional Investors Weigh In On Firefly Aerospace

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Firefly Aerospace in the 3rd quarter valued at about $26,000. CIBC Private Wealth Group LLC bought a new stake in Firefly Aerospace during the third quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Firefly Aerospace in the third quarter worth $55,000. SBI Securities Co. Ltd. acquired a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $74,000. Finally, Sandia Investment Management LP bought a new stake in Firefly Aerospace in the third quarter valued at about $147,000.

About Firefly Aerospace

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.