Firefly Aerospace, Inc. (NASDAQ:FLY) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Firefly Aerospace has a consensus analyst rating of “Moderate Buy”, based on coverage from 11 analysts. The average 12-month price target is $42.20.
• The stock has seen mixed analyst actions recently, including buy ratings from Deutsche Bank and Jefferies, while Weiss Ratings and Wall Street Zen issued or downgraded to sell-equivalent views.
• Firefly’s latest quarterly results showed revenue growth of 44.8% year over year and EPS of ($0.46), which beat expectations by $0.04, though the company remains unprofitable.

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $42.20.

FLY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Tuesday, May 5th. Weiss Ratings raised shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. 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. Wall Street Zen upgraded Firefly Aerospace from a "strong sell" rating to a "sell" rating in a report on Sunday, June 7th. Finally, Morgan Stanley raised their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th.

Insider Buying and Selling at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,765 shares of the company's stock in a transaction dated 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 directly owned 142,758 shares of the company's stock, valued at $6,441,240.96. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds have recently modified their holdings of FLY. Tema ETFs LLC boosted its stake in shares of Firefly Aerospace by 133,440.2% during the second quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock valued at $67,057,000 after purchasing an additional 2,279,159 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in Firefly Aerospace during the second quarter worth $738,000. Valeo Financial Advisors LLC bought a new stake in Firefly Aerospace during the 2nd quarter valued at $245,000. Parallel Advisors LLC raised its position in shares of Firefly Aerospace by 398.0% in the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company's stock worth $84,000 after acquiring an additional 2,360 shares in the last quarter. Finally, J. Derek Lewis & Associates Inc. bought a new position in shares of Firefly Aerospace in the 1st quarter worth $373,000.

Firefly Aerospace Stock Performance

Shares of Firefly Aerospace stock opened at $20.70 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02. The stock's fifty day moving average is $33.02 and its two-hundred day moving average is $30.14. Firefly Aerospace has a 52 week low of $16.00 and a 52 week high of $73.80. The company has a market capitalization of $3.32 billion and a PE ratio of -2.54.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business 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%.The firm's revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter last year, the business posted ($5.09) earnings per share. As a group, analysts expect that Firefly Aerospace will post -1.97 earnings per share for the current 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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