Mitsubishi UFJ Asset Management Co. Ltd. Takes $14.28 Million Position in Firefly Aerospace, Inc. $FLY

Key Points

• Mitsubishi UFJ Asset Management bought 485,711 Firefly Aerospace shares worth approximately $14.28 million, representing about 0.30% of the company.
• Firefly reported quarterly revenue of $117.68 million, up 659.2% year over year, while its adjusted loss of $0.42 per share beat the $0.50 consensus estimate. The company remains unprofitable, with a negative net margin of 126.64%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $36.82, compared with the stock’s recent price of $23.63.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 485,711 shares of the company's stock, valued at approximately $14,280,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.30% of Firefly Aerospace as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Firefly Aerospace during the third quarter valued at about $26,000. CIBC Private Wealth Group LLC bought a new stake in Firefly Aerospace in the 3rd quarter worth about $26,000. California State Teachers Retirement System purchased a new stake in Firefly Aerospace in the 4th quarter valued at about $30,000. NBC Securities Inc. purchased a new stake in Firefly Aerospace in the 4th quarter valued at about $38,000. Finally, KBC Group NV bought a new position in shares of Firefly Aerospace during the 1st quarter worth approximately $38,000.

Firefly Aerospace Price Performance

Shares of Firefly Aerospace stock opened at $23.63 on Friday. The firm has a market capitalization of $3.96 billion and a PE ratio of -8.04. The company has a current ratio of 2.73, a quick 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. The business's 50-day moving average price is $24.99 and its 200-day moving average price is $29.38.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The business's revenue for the quarter was up 659.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($5.78) earnings per share. Sell-side analysts forecast that Firefly Aerospace, Inc. will post -1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on FLY. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $35.00 target price on shares of Firefly Aerospace in a research note on Tuesday, May 5th. B. Riley Financial lowered their price target on shares of Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Roth Capital reduced their price objective on Firefly Aerospace from $60.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a research report on Wednesday, August 12th. Seven research 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, Firefly Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.82.

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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