BlueCrest Capital Management Ltd Buys Shares of 478,698 Firefly Aerospace, Inc. $FLY

Key Points

• BlueCrest Capital Management purchased a new position of 478,698 shares of Firefly Aerospace (NASDAQ:FLY) in Q3, valued at about $14.04 million, representing roughly 0.30% ownership.
• Several other institutions also initiated stakes in Q3, including WCM (~$19.4M), Phoenix (~$14.5M), TD Asset (~$4.35M), Penserra (~$3.7M) and notably AE Industrial Partners (~$1.0639 billion).
• Analysts are mixed but the consensus rating is a “Moderate Buy” with a consensus target of $38.88; the stock last opened near $24.58 and the company has a market cap of about $3.91 billion.

BlueCrest Capital Management Ltd purchased a new position in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 478,698 shares of the company's stock, valued at approximately $14,035,000. BlueCrest Capital Management Ltd owned 0.30% of Firefly Aerospace as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC purchased a new stake in Firefly Aerospace in the third quarter worth approximately $19,386,000. TD Asset Management Inc purchased a new stake in Firefly Aerospace during the 3rd quarter valued at $4,353,000. Phoenix Financial Ltd. bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at $14,468,000. AE Industrial Partners LP bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at $1,063,863,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Firefly Aerospace in the 3rd quarter worth $3,699,000.

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $24.58 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20. The stock has a 50-day simple moving average of $24.29 and a two-hundred day simple moving average of $26.54. The firm has a market capitalization of $3.91 billion and a PE ratio of -3.38. Firefly Aerospace, Inc. has a 52-week low of $16.00 and a 52-week high of $73.80.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLY. JPMorgan Chase & Co. dropped their target price on Firefly Aerospace from $55.00 to $28.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Firefly Aerospace in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, January 20th. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research report on Thursday, March 12th. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Firefly Aerospace in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.88.

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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