Firefly Aerospace, Inc. (NASDAQ:FLY) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Firefly Aerospace has a consensus analyst rating of "Hold" from 11 firms, with six buys, four holds, and one sell. The average 12-month price target is about $40.56.
• The stock was up 22.6% and opened at $39.68, near the consensus target, after analysts issued mixed updates including higher targets from Roth Mkm and B. Riley, but cuts from Goldman Sachs and Cantor Fitzgerald.
• In its latest quarterly report, Firefly posted revenue of $80.88 million, up 44.8% year over year, and beat EPS expectations slightly with a loss of $0.46 per share versus the expected $0.50 loss.

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $40.5556.

A number of analysts recently commented on the stock. Roth Mkm upped their price target 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. The Goldman Sachs Group raised their price target on Firefly Aerospace from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, April 20th. Weiss Ratings cut Firefly Aerospace from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, April 24th. B. Riley Financial assumed coverage on Firefly Aerospace in a report on Wednesday. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Cantor Fitzgerald decreased their price objective on Firefly Aerospace from $65.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, March 26th.

Firefly Aerospace Stock Up 22.6%

FLY stock opened at $39.68 on Friday. The stock's fifty day simple moving average is $29.66 and its two-hundred day simple moving average is $25.56. The company has a current ratio of 2.53, a quick ratio of 4.51 and a debt-to-equity ratio of 0.02. Firefly Aerospace has a 1-year low of $16.00 and a 1-year high of $73.80. The stock has a market cap of $6.36 billion and a P/E ratio of -4.87.

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 for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business 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%.The firm's revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($5.09) EPS. Analysts expect that Firefly Aerospace will post -1.81 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel David Leigh Wheeler sold 3,766 shares of Firefly Aerospace stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.04, for a total value of $169,620.64. Following the transaction, the general counsel owned 142,758 shares in the company, valued at $6,429,820.32. This trade represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Firefly Aerospace

A number of large investors have recently added to or reduced their stakes in the business. Resolute Advisors LLC raised its position in Firefly Aerospace by 70.1% in the 1st quarter. Resolute Advisors LLC now owns 18,200 shares of the company's stock worth $518,000 after purchasing an additional 7,500 shares during the period. Parallel Advisors LLC increased its stake in 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 purchasing an additional 2,360 shares during the period. KBC Group NV purchased a new position in Firefly Aerospace in the 1st quarter worth approximately $38,000. Swiss National Bank purchased a new position in Firefly Aerospace in the 1st quarter worth approximately $1,794,000. Finally, Bank of New York Mellon Corp increased its stake in Firefly Aerospace by 30.7% in the 1st quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company's stock worth $2,186,000 after purchasing an additional 18,022 shares during the period.

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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