Barclays Begins Coverage on Firefly Aerospace (NASDAQ:FLY)

Key Points

• Barclays initiated coverage of Firefly Aerospace with an “equal weight” rating and a $34 price target, implying 64.49% upside from the prior close.
• Analyst sentiment is mixed but leans positive: Firefly has a consensus “Moderate Buy” rating and an average price target of $36.58, with seven Buy, four Hold and one Sell rating.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and an adjusted loss of $0.42 per share that beat estimates; however, the company remains unprofitable, with a negative net margin of 126.64%.

Investment analysts at Barclays began coverage on shares of Firefly Aerospace (NASDAQ:FLY - Get Free Report) in a research note issued to investors on Friday, Briefing.com reports. The firm set an "equal weight" rating and a $34.00 price target on the stock. Barclays's price target would indicate a potential upside of 64.49% from the stock's previous close.

Several other analysts have also recently weighed in on the stock. B. Riley Financial lowered their price objective on shares of Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Jefferies Financial Group set a $35.00 price target on Firefly Aerospace in a research report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. KeyCorp raised Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price objective on the stock in a report on Monday, June 15th. Finally, Roth Capital lowered their price objective on shares of Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.58.

Firefly Aerospace Stock Performance

Shares of FLY opened at $20.67 on Friday. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $62.17. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The company has a market cap of $3.46 billion, a PE ratio of -7.03 and a beta of 0.59. The stock has a 50-day moving average price of $22.94 and a 200-day moving average price of $29.49.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $117.68 million for the quarter. During the same quarter last year, the company posted ($5.78) earnings per share. The firm's revenue for the quarter was up 659.2% on a year-over-year basis. As a group, equities analysts forecast that Firefly Aerospace will post -2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Firefly Aerospace

A number of large investors have recently made changes to their positions in the business. KBC Group NV bought a new position in shares of Firefly Aerospace during the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC purchased a new position in Firefly Aerospace during the 2nd quarter valued at $56,000. Parallel Advisors LLC raised its holdings in Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company's stock worth $84,000 after purchasing an additional 2,360 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Firefly Aerospace in the 2nd quarter worth about $103,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Firefly Aerospace during the 4th quarter valued at about $136,000.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.

Firefly's primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.

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