Firefly Aerospace, Inc. (NASDAQ:FLY) Short Interest Update

Key Points

• Short interest rose 17.6% in April to 9,181,514 shares as of April 15, representing 5.7% of the float and a days-to-cover ratio of 1.1 based on average daily volume.
• The analyst picture is mixed but the consensus is a Moderate Buy (six Buys, three Holds, one Sell) with a $37 consensus target, amid wide target swings such as Roth MKM raising its target to $60 and Cantor Fitzgerald cutting theirs to $35.
• Operationally, Firefly beat Q1 EPS estimates (‑$0.38 vs. ‑$0.48) and reported revenue up 541% year-over-year, but remains unprofitable with negative margins and ROE; the stock was trading around $33.49 with a $5.36 billion market cap.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 9,181,514 shares, a growth of 17.6% from the March 31st total of 7,807,766 shares. Based on an average daily volume of 8,561,491 shares, the days-to-cover ratio is presently 1.1 days. Currently, 5.7% of the shares of the stock are sold short.

Analyst Ratings Changes

FLY has been the subject of a number of research reports. Weiss Ratings cut Firefly Aerospace from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, April 24th. Roth Mkm increased their target price on Firefly Aerospace from $35.00 to $60.00 and gave the company a "buy" rating in a report on Friday, April 17th. UBS Group set a $33.00 target price on Firefly Aerospace in a report on Thursday, March 12th. Jefferies Financial Group increased their target price on Firefly Aerospace from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, April 13th. Finally, Cantor Fitzgerald dropped their target price on Firefly Aerospace from $65.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the company's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.04, for a total value of $169,620.64. Following the completion of the transaction, the general counsel directly owned 142,758 shares in the company, valued at approximately $6,429,820.32. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLY. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC bought a new position in Firefly Aerospace during the 3rd quarter valued at approximately $26,000. California State Teachers Retirement System bought a new position in Firefly Aerospace during the 4th quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the 4th quarter valued at approximately $38,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Firefly Aerospace in the 4th quarter worth approximately $38,000.

Firefly Aerospace Trading Down 2.1%

Shares of FLY stock opened at $33.49 on Thursday. The stock has a market capitalization of $5.36 billion and a PE ratio of -3.64. Firefly Aerospace has a 1-year low of $16.00 and a 1-year high of $73.80. The business has a 50-day moving average of $28.64 and a 200 day moving average of $25.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.51 and a quick ratio of 4.51.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.48) by $0.10. The business had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The firm's revenue for the quarter was up 541.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Firefly Aerospace will post -1.8 earnings per share for the current 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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