Firefly Aerospace, Inc. (NASDAQ:FLY) Stock Has Average Price Target of $36.58 According to Analysts

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) have received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.33.

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Firefly Aerospace in a research note on Wednesday, August 12th. B. Riley Financial reduced their price objective on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company assumed coverage on Firefly Aerospace in a research note on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price for the company. Finally, KeyCorp cut their price target on Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday.

Institutional Trading of Firefly Aerospace

Hedge funds have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. increased its stake in Firefly Aerospace by 64.0% in the third quarter. J. Derek Lewis & Associates Inc. now owns 21,650 shares of the company’s stock valued at $501,000 after purchasing an additional 8,450 shares during the period. Ethic Inc. acquired a new position in Firefly Aerospace in the 3rd quarter valued at about $1,215,000. Kestra Advisory Services LLC raised its stake in Firefly Aerospace by 147.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,910 shares of the company’s stock valued at $415,000 after acquiring an additional 10,658 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Firefly Aerospace by 31.1% during the third quarter. Commonwealth Equity Services LLC now owns 14,714 shares of the company’s stock worth $341,000 after purchasing an additional 3,489 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Firefly Aerospace during the third quarter worth approximately $23,354,000.

Firefly Aerospace Stock Performance

Firefly Aerospace stock opened at $17.01 on Friday. Firefly Aerospace has a 52-week low of $15.99 and a 52-week high of $62.17. The company has a fifty day simple moving average of $20.59 and a 200-day simple moving average of $27.03. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.08. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm had revenue of $117.68 million for the quarter. During the same period in the prior year, the business posted ($5.78) earnings per share. The business’s quarterly revenue was up 659.2% on a year-over-year basis. As a group, sell-side analysts predict that Firefly Aerospace will post -2.31 EPS for the current year.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.