Firefly Aerospace (NASDAQ:FLY) Stock Price Up 11.1% - Here's What Happened

Key Points

• Shares rose 11.1% mid-day, trading as high as $40.58 and last at $41.7860 on about 2.63M shares, roughly 44% below its average daily volume.
• Analysts maintain a consensus of "Moderate Buy" with an average price target of $33.25 (six Buy, three Hold, one Sell); Goldman Sachs raised its target to $32 while Morgan Stanley and UBS issued positive/near-$33 notes.
• Financials are mixed: Firefly reported an EPS of ($0.38) that beat estimates by $0.10 and revenue of $57.67M (up 541% YoY), but it remains unprofitable with a net margin of -186.63% and negative ROE of -234.80%.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares rose 11.1% during mid-day trading on Thursday . The stock traded as high as $40.58 and last traded at $41.7860. Approximately 2,634,725 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 4,723,650 shares. The stock had previously closed at $37.62.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, January 20th. Morgan Stanley reissued a "positive" rating on shares of Firefly Aerospace in a report on Thursday, March 12th. UBS Group set a $33.00 price objective on shares of Firefly Aerospace in a report on Thursday, March 12th. KeyCorp began coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They issued a "sector weight" rating for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Firefly Aerospace Stock Up 15.1%

The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.92 billion and a PE ratio of -4.74. The business's 50 day simple moving average is $25.13 and its 200 day simple moving average is $24.79.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.48) by $0.10. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The company had revenue of $57.67 million during the quarter. The firm's revenue was up 541.1% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the third quarter valued at approximately $26,000. CIBC Private Wealth Group LLC bought a new position in Firefly Aerospace during the third quarter valued at approximately $26,000. California State Teachers Retirement System bought a new position in Firefly Aerospace during the fourth quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the fourth quarter valued at approximately $38,000. Finally, Russell Investments Group Ltd. bought a new position in Firefly Aerospace during the fourth quarter valued at approximately $38,000.

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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