Firefly Aerospace (NASDAQ:FLY) Stock Price Up 9.8% - Here's What Happened

Key Points

• Shares jumped ~9.8% intraday, trading as high as $20.18 and last around $21.16 on significantly lighter volume (487,135 shares vs. the ~3.28M average, an ~85% decline).
• Analysts are mixed but collectively assign a “Moderate Buy” consensus with a price target of $39.71 (ratings range from Sell to Strong Buy across firms).
• Fundamentals show low leverage and strong liquidity (debt/equity 0.03, current and quick ratios 6.20), a negative P/E, and a market cap of about $3.29 billion; several institutions established small new positions recently.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report)'s share price shot up 9.8% during mid-day trading on Monday . The stock traded as high as $20.18 and last traded at $21.1590. 487,135 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 3,283,969 shares. The stock had previously closed at $19.27.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLY. Weiss Ratings reissued a "sell (d-)" rating on shares of Firefly Aerospace in a research note on Monday, December 29th. Morgan Stanley set a $33.00 price target on Firefly Aerospace in a report on Friday, January 16th. JPMorgan Chase & Co. cut their target price on Firefly Aerospace from $55.00 to $28.00 and set an "overweight" rating for the company in a research report on Tuesday, November 25th. Roth Mkm restated a "buy" rating on shares of Firefly Aerospace in a research note on Monday, November 24th. Finally, KeyCorp began coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a "sector weight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.71.

Firefly Aerospace Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20. The stock has a 50-day simple moving average of $25.10. The firm has a market cap of $3.29 billion and a P/E ratio of -2.84.

Institutional Investors Weigh In On Firefly Aerospace

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Firefly Aerospace in the third quarter valued at $26,000. California State Teachers Retirement System purchased a new stake in shares of Firefly Aerospace in the fourth quarter valued at $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace in the 4th quarter worth about $38,000. Finally, Russell Investments Group Ltd. bought a new stake in Firefly Aerospace in the fourth quarter worth about $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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