Tidal Investments LLC Takes Position in Firefly Aerospace, Inc. $FLY

Key Points

• Tidal Investments acquired 2.17 million shares of Firefly Aerospace in the second quarter, worth approximately $63.7 million and representing a 1.29% stake.
• Several other institutions, including Vanguard, Franklin Resources, UBS and Two Sigma, also established positions. Analysts maintain a generally positive outlook, with seven Buy ratings, three Holds and one Sell, producing 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 loss of $0.42 per share that exceeded expectations. Despite the revenue growth, the company remains unprofitable, with a negative net margin of 126.64%, while shares recently traded near $21.81.

Tidal Investments LLC purchased a new stake in shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,167,135 shares of the company's stock, valued at approximately $63,714,000. Tidal Investments LLC owned approximately 1.29% of Firefly Aerospace at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Firefly Aerospace in the 3rd quarter worth $53,409,000. Franklin Resources Inc. acquired a new stake in shares of Firefly Aerospace during the third quarter valued at about $7,834,000. BNP Paribas Financial Markets purchased a new stake in shares of Firefly Aerospace during the third quarter worth about $26,000. UBS Group AG purchased a new stake in shares of Firefly Aerospace during the third quarter worth about $15,587,000. Finally, Two Sigma Investments LP acquired a new position in shares of Firefly Aerospace in the third quarter worth about $1,128,000.

Analyst Upgrades and Downgrades

FLY has been the subject of a number of recent analyst reports. B. Riley Financial lowered their price objective on Firefly Aerospace from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Jefferies Financial Group set a $35.00 target price on Firefly Aerospace in a research report on Wednesday, August 12th. Wall Street Zen upgraded Firefly Aerospace from a "sell" rating to a "hold" rating in a research note on Sunday, August 23rd. Wells Fargo & Company started coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an "equal weight" rating and a $25.00 price target 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 on the stock in a report on Monday, June 15th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Firefly Aerospace presently has an average rating of "Moderate Buy" and an average price target of $36.82.

Firefly Aerospace Stock Down 4.8%

Shares of Firefly Aerospace stock opened at $21.81 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.65 billion and a P/E ratio of -7.42. Firefly Aerospace, Inc. has a fifty-two week low of $16.00 and a fifty-two week high of $62.17. The business has a 50-day moving average price of $22.99 and a 200 day moving average price of $29.38.

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

About Firefly Aerospace

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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