Bank of New York Mellon Corp Takes Position in Firefly Aerospace, Inc. $FLY

Key Points

• Bank of New York Mellon acquired 246,927 shares of Firefly Aerospace valued at approximately $7.26 million, while several other institutional investors—including Tema ETFs, Vanguard, UBS and Temasek—also increased their positions.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and a loss of $0.42 per share that exceeded analysts’ expectations. However, the company remains unprofitable, with a negative net margin of 126.64%.
• Shares opened at $21.06, well below their 12-month high of $62.17. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $36.82, despite several recent target reductions.

Bank of New York Mellon Corp acquired a new position in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 246,927 shares of the company's stock, valued at approximately $7,260,000. Bank of New York Mellon Corp owned 0.15% of Firefly Aerospace 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. Tema ETFs LLC grew its holdings in shares of Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock worth $67,057,000 after purchasing an additional 2,279,159 shares during the period. Vanguard Group Inc. acquired a new position in shares of Firefly Aerospace in the 3rd quarter worth approximately $53,409,000. UBS Group AG lifted its holdings in shares of Firefly Aerospace by 233.6% in the 4th 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 last quarter. Temasek Holdings Private Ltd boosted its position in shares of Firefly Aerospace by 151.3% during the 4th 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 during the period. Finally, Phoenix Financial Ltd. raised its position in Firefly Aerospace by 33.8% in the fourth quarter. Phoenix Financial Ltd. now owns 660,060 shares of the company's stock valued at $14,765,000 after purchasing an additional 166,599 shares during the period.

Firefly Aerospace Trading Down 0.0%

NASDAQ:FLY opened at $21.06 on Friday. Firefly Aerospace, Inc. has a 12-month low of $16.00 and a 12-month high of $62.17. The firm has a market cap of $3.53 billion and a PE ratio of -7.16. 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 stock has a fifty day moving average price of $23.48 and a 200 day moving average price of $29.34.

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. 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 quarter in the previous year, the business posted ($5.78) EPS. The business's quarterly revenue was up 659.2% compared to the same quarter last year. Sell-side analysts anticipate that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLY has been the topic of several research analyst reports. B. Riley Financial cut their price objective on Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings raised Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. Wells Fargo & Company initiated coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They set an "equal weight" rating and a $25.00 price target on the stock. Roth Capital reduced their price target on shares of Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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