Bank of America Corp DE Buys 107,080 Shares of Firefly Aerospace, Inc. $FLY

Bank of America Corp DE increased its stake in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) by 55.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 299,042 shares of the company's stock after buying an additional 107,080 shares during the period. Bank of America Corp DE owned 0.19% of Firefly Aerospace worth $8,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLY. Vanguard Group Inc. bought a new position in Firefly Aerospace in the 3rd quarter worth about $53,409,000. UBS Group AG increased its stake in Firefly Aerospace by 233.6% during the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company's stock valued at $39,676,000 after purchasing an additional 1,241,987 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in Firefly Aerospace by 151.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company's stock worth $23,927,000 after buying an additional 643,886 shares during the last quarter. Invesco Ltd. bought a new position in shares of Firefly Aerospace in the fourth quarter worth approximately $11,607,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Firefly Aerospace in the fourth quarter worth approximately $10,230,000.

Firefly Aerospace Stock Performance

Shares of FLY opened at $23.10 on Tuesday. The firm has a market capitalization of $3.87 billion and a P/E ratio of -7.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. Firefly Aerospace, Inc. has a one year low of $16.00 and a one year high of $62.17. The business has a fifty day moving average of $24.63 and a 200 day moving average of $29.38.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, beating 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 company had revenue of $117.68 million for the quarter. During the same period in the prior year, the company posted ($5.78) EPS. The firm's revenue was up 659.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Firefly Aerospace, Inc. will post -1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research report on Monday, July 27th. They set an "equal weight" rating and a $25.00 price target for the company. KeyCorp upgraded Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 target price on the stock in a research note on Monday, June 15th. Roth Capital reduced their target price on Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Weiss Ratings upgraded Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price target on shares of Firefly Aerospace 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.82.

About Firefly Aerospace

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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