Firefly Aerospace (NASDAQ:FLY) Shares Up 8.3% – What’s Next?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) traded up 8.3% during trading on Monday . The company traded as high as $22.65 and last traded at $22.71. Approximately 914,850 shares were traded during trading, a decline of 82% from the average daily volume of 5,117,827 shares. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLY shares. Wells Fargo & Company assumed coverage on Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price on the stock. Wall Street Zen downgraded shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday. B. Riley Financial cut their target price on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. KeyCorp upgraded Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Monday, June 15th. Finally, Roth Capital lowered their price target on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Stock Performance

The firm’s fifty day moving average is $22.19 and its 200 day moving average is $29.41. The firm has a market capitalization of $3.82 billion and a price-to-earnings ratio of -7.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.08. The firm had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm’s quarterly revenue was up 659.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($5.78) EPS. On average, analysts predict that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Firefly Aerospace

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in shares of Firefly Aerospace in the 2nd quarter valued at approximately $63,714,000. Integrated Wealth Concepts LLC bought a new position in Firefly Aerospace during the second quarter valued at about $56,000. Arizona State Retirement System raised its holdings in Firefly Aerospace by 76.7% in the 2nd quarter. Arizona State Retirement System now owns 15,462 shares of the company’s stock worth $455,000 after acquiring an additional 6,714 shares during the period. Corient Private Wealth LP bought a new stake in Firefly Aerospace in the 2nd quarter valued at $742,000. Finally, HighTower Advisors LLC acquired a new stake in Firefly Aerospace in the 2nd quarter worth $211,000.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.