Firefly Aerospace (NASDAQ:FLY) Trading 13.5% Higher – Here’s What Happened

Firefly Aerospace, Inc. (NASDAQ:FLY) traded up 13.5% on Wednesday . The company traded as high as $28.28 and last traded at $26.9270. 2,851,570 shares were traded during trading, a decline of 25% from the average session volume of 3,784,672 shares. The stock had previously closed at $23.73.

Analyst Ratings Changes

FLY has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. KeyCorp began coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research report on Thursday, March 12th. Morgan Stanley reissued a “positive” rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.88.

Firefly Aerospace Stock Performance

The stock has a market cap of $4.39 billion and a PE ratio of -2.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 6.20. The business has a 50 day moving average price of $23.76 and a two-hundred day moving average price of $25.82.

Firefly Aerospace (NASDAQ:FLY) last issued its earnings results on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.10. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The company had revenue of $57.67 million for the quarter. The firm’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AE Industrial Partners LP purchased a new position in shares of Firefly Aerospace during the third quarter valued at about $1,063,863,000. Vanguard Group Inc. purchased a new position in Firefly Aerospace during the third quarter valued at $53,409,000. Hudson Bay Capital Management LP bought a new position in Firefly Aerospace in the 3rd quarter worth about $50,711,000. UBS Group AG lifted its stake 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 in the last quarter. Finally, Capital World Investors bought a new position in Firefly Aerospace in the 3rd quarter valued at approximately $35,337,000.

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.