5,903,830 Shares in Firefly Aerospace, Inc. $FLY Bought by BlackRock Inc.

Key Points

• BlackRock acquired 5.9 million Firefly Aerospace shares during the second quarter, worth approximately $173.6 million and representing a 3.68% stake.
• Other institutional investors, including Tema ETFs, Vanguard, UBS, Temasek and Invesco, also increased or initiated positions in Firefly, signaling strong institutional interest.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $36.82, while Firefly recently reported quarterly revenue of $117.68 million, up 659.2% year over year, despite posting a net loss.

BlackRock Inc. acquired a new stake in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,903,830 shares of the company's stock, valued at approximately $173,573,000. BlackRock Inc. owned 3.68% of Firefly Aerospace as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in FLY. Tema ETFs LLC grew its position in Firefly Aerospace by 133,440.2% in the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock valued at $67,057,000 after buying an additional 2,279,159 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of Firefly Aerospace in the third quarter valued at about $53,409,000. UBS Group AG increased its stake in shares of Firefly Aerospace by 233.6% during the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company's stock worth $39,676,000 after acquiring an additional 1,241,987 shares during the period. Temasek Holdings Private Ltd raised its holdings in Firefly Aerospace by 151.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company's stock worth $23,927,000 after purchasing an additional 643,886 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Firefly Aerospace in the fourth quarter valued at about $11,607,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FLY shares. Jefferies Financial Group set a $35.00 price objective on Firefly Aerospace in a report on Wednesday, August 12th. Morgan Stanley lifted their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company began coverage on Firefly Aerospace in a report on Monday, July 27th. They set an "equal weight" rating and a $25.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Firefly Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

Firefly Aerospace Stock Down 0.4%

NASDAQ:FLY opened at $22.16 on Friday. The company has a market capitalization of $3.71 billion and a price-to-earnings ratio of -7.54. Firefly Aerospace, Inc. has a one year low of $16.00 and a one year high of $62.17. The stock has a 50-day simple moving average of $24.11 and a 200 day simple moving average of $29.35. 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 (NASDAQ:FLY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.08. The firm had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The company's quarterly revenue was up 659.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($5.78) EPS. Sell-side analysts predict that Firefly Aerospace, Inc. will post -1.91 EPS for the current fiscal year.

Firefly Aerospace 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.

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