Firefly Aerospace (NASDAQ:FLY) Trading Up 9.6% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price shot up 9.6% on Tuesday . The stock traded as high as $20.38 and last traded at $21.1540. 881,063 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,524,139 shares. The stock had previously closed at $19.30.

Analyst Ratings Changes

A number of research analysts have recently commented on FLY shares. The Goldman Sachs Group lifted their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $33.00 target price on Firefly Aerospace in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft upgraded 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Finally, KeyCorp initiated coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.

Firefly Aerospace Stock Up 5.6%

The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $25.20. The firm has a market capitalization of $3.25 billion and a P/E ratio of -2.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLY. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace during the third quarter worth about $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace in the fourth quarter valued at approximately $38,000. Finally, Russell Investments Group Ltd. acquired a new position in Firefly Aerospace during the fourth quarter valued at approximately $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.