EFG International AG Acquires New Holdings in Firefly Aerospace, Inc. $FLY

Key Points

• EFG International AG acquired 110,677 Firefly Aerospace shares valued at approximately $3.26 million, representing about 0.07% of the company. Several other institutional investors also initiated positions recently.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and posted an adjusted loss of $0.42 per share, beating estimates of a $0.50 loss. Despite strong revenue growth, the company remains unprofitable with a negative net margin of 126.64%.
• Analysts maintain a generally positive outlook, with seven Buy ratings, four Holds and one Sell; the consensus rating is Moderate Buy with a $36.82 price target, compared with the stock’s recent opening price of $22.26.

EFG International AG bought a new position in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 110,677 shares of the company's stock, valued at approximately $3,256,000. EFG International AG owned approximately 0.07% of Firefly Aerospace as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Firefly Aerospace during the third quarter worth $26,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Firefly Aerospace in the third quarter worth about $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace during the 4th quarter worth about $30,000. NBC Securities Inc. bought a new position in shares of Firefly Aerospace in the 4th quarter valued at approximately $38,000. Finally, KBC Group NV bought a new stake in Firefly Aerospace during the first quarter worth approximately $38,000.

Firefly Aerospace Stock Performance

FLY stock opened at $22.26 on Thursday. Firefly Aerospace, Inc. has a 1-year low of $16.00 and a 1-year high of $62.17. 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 business's 50 day moving average is $24.28 and its 200-day moving average is $29.36. The firm has a market cap of $3.73 billion and a P/E ratio of -7.57.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) 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 for the quarter. During the same period in the prior year, the firm earned ($5.78) EPS. Firefly Aerospace's quarterly revenue was up 659.2% compared to the same quarter last year. Equities analysts anticipate that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Firefly Aerospace from a "sell" rating to a "hold" rating in a report on Sunday. KeyCorp raised Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price objective for the company in a research report on Monday, June 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 target price on shares of Firefly Aerospace in a report on Wednesday, August 12th. Weiss Ratings upgraded Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. Finally, Morgan Stanley raised their price objective on shares of Firefly Aerospace from $33.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Seven investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.82.

Firefly Aerospace Company 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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