Swiss National Bank Purchases New Position in Firefly Aerospace, Inc. $FLY

Key Points

• Swiss National Bank bought 63,000 shares of Firefly Aerospace during the first quarter, worth approximately $1.79 million. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is generally positive: Firefly has a consensus “Moderate Buy” rating, with an average price target of $40.64; recent targets include $50 from KeyCorp and $60 from Roth Capital.
• Firefly reported quarterly revenue of $80.88 million, up 44.8% year over year, and an adjusted loss of $0.46 per share. Despite beating estimates, the company remains unprofitable, with a negative net margin of 181.16%.

Swiss National Bank purchased a new position in Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 63,000 shares of the company's stock, valued at approximately $1,794,000.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Firefly Aerospace by 30.7% during the first quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company's stock valued at $2,186,000 after purchasing an additional 18,022 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Firefly Aerospace in the 1st quarter worth approximately $2,862,000. J. Safra Sarasin Holding AG boosted its holdings in shares of Firefly Aerospace by 23.4% in the 1st quarter. J. Safra Sarasin Holding AG now owns 12,577 shares of the company's stock worth $358,000 after purchasing an additional 2,386 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Firefly Aerospace during the 1st quarter valued at approximately $748,000. Finally, Penney Financial LLC purchased a new stake in Firefly Aerospace during the 1st quarter valued at $649,000.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $45.12, for a total transaction of $169,876.80. Following the completion of the sale, the general counsel directly owned 142,758 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLY. KeyCorp upgraded Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price target for the company in a research report on Monday, June 15th. Roth Capital increased their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Wall Street Zen upgraded shares of Firefly Aerospace from a "strong sell" rating to a "sell" rating in a report on Sunday, June 7th. Jefferies Financial Group reaffirmed a "buy" rating and set a $52.00 price target on shares of Firefly Aerospace in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.64.

Firefly Aerospace Trading Up 0.2%

Shares of NASDAQ FLY opened at $20.33 on Friday. Firefly Aerospace, Inc. has a fifty-two week low of $16.00 and a fifty-two week high of $73.80. 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 cap of $3.26 billion and a price-to-earnings ratio of -2.49. The business's 50 day moving average price is $30.10 and its 200-day moving average price is $29.78.

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, beating analysts' consensus estimates of ($0.50) by $0.04. The company had revenue of $80.88 million during 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 was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($5.09) EPS. On average, sell-side analysts expect that Firefly Aerospace, Inc. will post -1.97 earnings per share 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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