The Manufacturers Life Insurance Company Invests $1.50 Million in Firefly Aerospace, Inc. $FLY

The Manufacturers Life Insurance Company purchased a new stake in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 50,939 shares of the company’s stock, valued at approximately $1,498,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Firefly Aerospace in the second quarter worth about $173,573,000. Tema ETFs LLC grew its stake in shares of Firefly Aerospace by 133,440.2% during the second quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock valued at $67,057,000 after buying an additional 2,279,159 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of Firefly Aerospace in the third quarter worth approximately $53,409,000. UBS Group AG raised its holdings in shares of Firefly Aerospace by 233.6% in the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after buying an additional 1,241,987 shares during the period. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Firefly Aerospace by 151.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock worth $23,927,000 after acquiring an additional 643,886 shares during the last quarter.

Firefly Aerospace Stock Down 0.0%

Shares of NASDAQ FLY opened at $21.06 on Friday. Firefly Aerospace, Inc. has a 52-week low of $16.00 and a 52-week high of $62.17. The firm has a market capitalization of $3.53 billion and a price-to-earnings ratio of -7.16. The stock has a 50 day moving average price of $23.48 and a 200 day moving average price of $29.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.08. The company had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The company’s revenue for the quarter was up 659.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($5.78) earnings per share. Sell-side analysts expect that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Roth Capital dropped their price objective on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings upgraded Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. KeyCorp raised shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Wells Fargo & Company began coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target on the stock. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.82.

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.