Ieq Capital LLC Makes New $5.25 Million Investment in Firefly Aerospace, Inc. $FLY

Key Points

• Ieq Capital LLC acquired 178,688 Firefly Aerospace shares during the second quarter, investing approximately $5.25 million for a 0.11% stake.
• Analysts maintain a generally positive outlook, with seven Buy, four Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $36.82.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, and an adjusted EPS loss of $0.42 that beat expectations, though the company remains unprofitable with a negative net margin of 126.64%.

Ieq Capital LLC bought a new stake in shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 178,688 shares of the company's stock, valued at approximately $5,253,000. Ieq Capital LLC owned approximately 0.11% of Firefly Aerospace at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Firefly Aerospace in the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC acquired a new position in shares of Firefly Aerospace in the 3rd quarter worth approximately $26,000. California State Teachers Retirement System bought a new position in shares of Firefly Aerospace in the fourth quarter valued at about $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace during the fourth quarter valued at approximately $38,000. Finally, KBC Group NV acquired a new position in Firefly Aerospace during the 1st quarter worth $38,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group set a $35.00 price target on Firefly Aerospace in a report on Wednesday, August 12th. Wells Fargo & Company assumed coverage on Firefly Aerospace in a report on Monday, July 27th. They set an "equal weight" rating and a $25.00 price objective for the company. Weiss Ratings upgraded shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. B. Riley Financial reduced their target price on shares of Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Finally, Morgan Stanley boosted their price target 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 analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Firefly Aerospace currently has an average rating of "Moderate Buy" and an average target price of $36.82.

Firefly Aerospace Price Performance

Shares of Firefly Aerospace stock opened at $24.45 on Monday. The business has a fifty day simple moving average of $24.84 and a 200 day simple moving average of $29.39. The stock has a market cap of $4.09 billion and a PE ratio of -8.32. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02. Firefly Aerospace, Inc. has a 12 month low of $16.00 and a 12 month high of $62.17.

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