Firefly Aerospace (NASDAQ:FLY) Trading 8.3% Higher - What's Next?

Key Points

• Firefly Aerospace shares rose 8.3% to $22.71 in Monday trading, although volume was 82% below the stock’s average session volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $36.82; targets range from $35 to $50, despite one recent downgrade to “Sell.”
• The company reported quarterly revenue of $117.68 million, up 659.2% year over year, and a narrower-than-expected loss of $0.42 per share. Institutional investors including BlackRock, VanEck and Tema ETFs also built significant positions.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares rose 8.3% during trading on Monday . The company traded as high as $22.65 and last traded at $22.71. 914,850 shares were traded during mid-day trading, a decline of 82% from the average session volume of 5,117,827 shares. The stock had previously closed at $20.97.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price target on shares of Firefly Aerospace in a report on Wednesday, August 12th. Wall Street Zen downgraded Firefly Aerospace from a "hold" rating to a "sell" rating in a research note on Saturday. Jefferies Financial Group set a $35.00 price objective on Firefly Aerospace in a report on Wednesday, August 12th. Weiss Ratings upgraded Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 25th. Finally, KeyCorp upgraded Firefly Aerospace from a "sector weight" rating to an "overweight" rating and set a $50.00 price target for the company in a report on Monday, June 15th. Seven 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.82.

Firefly Aerospace Stock Up 8.9%

The stock has a market cap of $3.82 billion and a P/E ratio of -7.76. The stock's fifty day simple moving average is $22.19 and its 200-day simple moving average is $29.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.08. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The firm had revenue of $117.68 million for the quarter. During the same period in the prior year, the business earned ($5.78) earnings per share. Firefly Aerospace's quarterly revenue was up 659.2% on a year-over-year basis. On average, research analysts anticipate that Firefly Aerospace, Inc. will post -2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Firefly Aerospace in the 2nd quarter worth approximately $173,573,000. Van ECK Associates Corp raised its stake in Firefly Aerospace by 43.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company's stock valued at $89,621,000 after acquiring an additional 927,804 shares in the last quarter. Tema ETFs LLC boosted its position in Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company's stock worth $67,057,000 after acquiring an additional 2,279,159 shares during the period. Tidal Investments LLC bought a new position in shares of Firefly Aerospace in the second quarter worth $63,714,000. Finally, Temasek Holdings Private Ltd increased its holdings in shares of Firefly Aerospace by 151.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company's stock valued at $23,927,000 after purchasing an additional 643,886 shares during the period.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.

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