Firefly Aerospace, Inc. (NASDAQ:FLY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Firefly Aerospace, with seven buys, three holds and one sell among 11 analysts. The average 12-month price target is $36.82, well above the stock’s reported $21.13 price.
• 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 of a $0.50 loss. However, the company remains unprofitable, with a negative net margin of 126.64%.
• Institutional interest increased, including a new approximately $63.7 million stake from Tidal Investments. The stock has traded between $16.00 and $62.17 over the past year and has a market capitalization of about $3.54 billion.

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.8182.

A number of brokerages recently issued reports on FLY. Weiss Ratings raised shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. B. Riley Financial dropped their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Wells Fargo & Company began coverage on shares of Firefly Aerospace in a report on Monday, July 27th. They set an "equal weight" rating and a $25.00 price target for the company. Finally, Jefferies Financial Group set a $35.00 price target on shares of Firefly Aerospace in a research report on Wednesday, August 12th.

Institutional Trading of Firefly Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of FLY. Tidal Investments LLC purchased a new stake in Firefly Aerospace in the 2nd quarter valued at about $63,714,000. Integrated Wealth Concepts LLC purchased a new position in Firefly Aerospace during the second quarter worth about $56,000. Arizona State Retirement System increased its position in shares of Firefly Aerospace by 76.7% during the second quarter. Arizona State Retirement System now owns 15,462 shares of the company's stock valued at $455,000 after acquiring an additional 6,714 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Firefly Aerospace in the 2nd quarter valued at approximately $742,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Firefly Aerospace in the 2nd quarter valued at approximately $211,000.

Firefly Aerospace Stock Performance

Shares of Firefly Aerospace stock opened at $21.13 on Friday. The business's 50 day moving average price is $22.67 and its 200 day moving average price is $29.33. The company has a market cap of $3.54 billion and a price-to-earnings ratio of -7.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73. Firefly Aerospace has a one year low of $16.00 and a one year high of $62.17.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.08. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The business had revenue of $117.68 million during the quarter. During the same period last year, the business earned ($5.78) earnings per share. The firm's revenue was up 659.2% compared to the same quarter last year. On average, research analysts predict that Firefly Aerospace will post -1.91 EPS for the current year.

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.

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