Firefly Aerospace (NASDAQ:FLY) Shares Up 8.2% – Still a Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price traded up 8.2% during trading on Monday . The company traded as high as $28.07 and last traded at $27.6290. 971,780 shares traded hands during trading, a decline of 84% from the average session volume of 5,989,930 shares. The stock had previously closed at $25.54.

Analyst Ratings Changes

Several brokerages have recently issued reports on FLY. The Goldman Sachs Group increased their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $35.00 target price on shares of Firefly Aerospace in a report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and issued a $52.00 price target on shares of Firefly Aerospace in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 7th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.20.

Firefly Aerospace Stock Up 12.0%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 2.53. The company has a market cap of $4.58 billion and a PE ratio of -3.52. The business’s 50 day moving average is $38.29 and its 200-day moving average is $29.99.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The business had revenue of $80.88 million for the quarter. During the same quarter in the previous year, the business posted ($5.09) earnings per share. Firefly Aerospace’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, analysts predict that Firefly Aerospace, Inc. will post -1.97 EPS for the current year.

Insider Buying and Selling at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,765 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $45.12, for a total transaction of $169,876.80. Following the completion of the sale, the general counsel owned 142,758 shares in the company, valued at $6,441,240.96. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Firefly Aerospace

Several hedge funds have recently added to or reduced their stakes in FLY. BNP Paribas Financial Markets purchased a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of Firefly Aerospace in the 3rd quarter valued at $26,000. California State Teachers Retirement System purchased a new position in shares of Firefly Aerospace in the 4th quarter valued at $30,000. NBC Securities Inc. acquired a new stake in Firefly Aerospace during the 4th quarter worth $38,000. Finally, KBC Group NV purchased a new stake in Firefly Aerospace in the first quarter valued at $38,000.

Firefly Aerospace Company Profile

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.