Firefly Aerospace (NASDAQ:FLY) Trading Up 12.3% - Here's What Happened

Key Points

• Shares jumped 12.3% to $26.53 on Tuesday, with about 1.23 million shares traded—roughly a 69% drop from the stock's average daily volume.
• Wall Street's consensus is a Moderate Buy with an average price target of $35.13, though analyst views are mixed (1 Strong Buy, 5 Buy, 3 Hold, 1 Sell) and recent target moves have varied by firm.
• In the latest quarter revenue surged 541.1% to $57.67 million and EPS loss narrowed to ($0.38), beating estimates, but the company remains unprofitable with a negative net margin and return on equity.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares were up 12.3% on Tuesday . The stock traded as high as $26.07 and last traded at $26.5320. Approximately 1,226,494 shares traded hands during trading, a decline of 69% from the average daily volume of 3,972,888 shares. The stock had previously closed at $23.62.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cantor Fitzgerald cut their price objective on Firefly Aerospace from $65.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, March 26th. The Goldman Sachs Group boosted their price target on Firefly Aerospace from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a research note on Thursday, March 12th. KeyCorp assumed coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a "sector weight" rating on the stock. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Firefly Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $35.13.

Firefly Aerospace Stock Up 18.6%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.51 and a current ratio of 4.51. The business has a 50 day simple moving average of $23.26 and a 200-day simple moving average of $25.31. The firm has a market capitalization of $4.48 billion and a price-to-earnings ratio of -3.05.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $57.67 million for the quarter. Firefly Aerospace's revenue for the quarter was up 541.1% on a year-over-year basis.

Institutional Trading of Firefly Aerospace

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