Renaissance Technologies LLC Boosts Stock Holdings in Firefly Aerospace, Inc. $FLY

Key Points

• Renaissance Technologies increased its Firefly Aerospace stake by 1,301.3% in the first quarter, adding 305,800 shares to own 329,300 shares valued at approximately $9.4 million.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $40.64, although individual ratings range from sell to overweight.
• Firefly reported quarterly revenue of $80.88 million, up 44.8% year over year, and an adjusted loss of $0.46 per share that beat estimates; however, the company remains unprofitable with a negative net margin of 181.16%.

Renaissance Technologies LLC increased its position in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) by 1,301.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 329,300 shares of the company's stock after buying an additional 305,800 shares during the quarter. Renaissance Technologies LLC owned about 0.21% of Firefly Aerospace worth $9,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Firefly Aerospace in the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC purchased a new stake in Firefly Aerospace during the 3rd quarter worth $26,000. KBC Group NV acquired a new stake in Firefly Aerospace in the 1st quarter valued at $38,000. California State Teachers Retirement System purchased a new position in Firefly Aerospace in the fourth quarter valued at about $30,000. Finally, Russell Investments Group Ltd. purchased a new position in Firefly Aerospace in the fourth quarter valued at about $38,000.

Wall Street Analyst Weigh In

FLY has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Firefly Aerospace from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Weiss Ratings raised Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. Wall Street Zen upgraded Firefly Aerospace from a "strong sell" rating to a "sell" rating in a report on Sunday, June 7th. Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an "equal weight" rating and a $25.00 target price for the company. Finally, KeyCorp raised shares of Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price target for the company in a report on Monday, June 15th. Seven 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's stock. Based on data from MarketBeat, Firefly Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $40.64.

Insider Activity

In related news, General Counsel David Leigh Wheeler sold 3,765 shares of Firefly Aerospace stock in a transaction on Monday, May 18th. The shares were sold at an average price of $45.12, for a total value of $169,876.80. Following the completion of the sale, the general counsel owned 142,758 shares in the company, valued at approximately $6,441,240.96. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.50% of the company's stock.

Firefly Aerospace Stock Performance

Shares of FLY opened at $20.33 on Monday. Firefly Aerospace, Inc. has a one year low of $16.00 and a one year high of $73.80. The stock has a 50-day moving average price of $30.10 and a 200 day moving average price of $29.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.53 and a current ratio of 2.53. The company has a market capitalization of $3.26 billion and a P/E ratio of -2.49.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.Firefly Aerospace's revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($5.09) earnings per share. Sell-side analysts forecast that Firefly Aerospace, Inc. will post -1.97 EPS for the current fiscal year.

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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