Wells Fargo & Company Initiates Coverage on Firefly Aerospace (NASDAQ:FLY)

Key Points

• Wells Fargo initiated coverage of Firefly Aerospace with an “equal weight” rating and a $25 price target, implying approximately 27% upside from the prior close.
• Analyst sentiment remains broadly positive: seven analysts rate the stock a Buy, four Hold, and one Sell, producing a “Moderate Buy” consensus rating and an average price target of $40.64.
• Firefly reported quarterly revenue of $80.88 million, up 44.8% year over year, and an adjusted EPS loss of $0.46 that exceeded estimates; however, the company continues to post significant negative margins and analysts expect a full-year loss.

Stock analysts at Wells Fargo & Company began coverage on shares of Firefly Aerospace (NASDAQ:FLY - Get Free Report) in a research note issued to investors on Monday. The firm set an "equal weight" rating and a $25.00 price target on the stock. Wells Fargo & Company's price objective points to a potential upside of 26.97% from the company's previous close.

FLY has been the topic of several other reports. Weiss Ratings upgraded shares of Firefly Aerospace from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 25th. Jefferies Financial Group restated a "buy" rating and set a $52.00 target price on shares of Firefly Aerospace in a research note on Tuesday, June 2nd. The Goldman Sachs Group upped their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Firefly Aerospace from a "strong sell" rating to a "sell" rating in a report on Sunday, June 7th. Finally, Roth Capital raised their price objective on shares of Firefly Aerospace from $35.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Firefly Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $40.64.

Firefly Aerospace Price Performance

NASDAQ:FLY opened at $19.69 on Monday. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The firm has a market capitalization of $3.16 billion and a price-to-earnings ratio of -2.42. The stock's 50 day moving average price is $32.60 and its two-hundred day moving average price is $30.09. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The company had revenue of $80.88 million during the quarter. During the same quarter in the prior year, the firm posted ($5.09) earnings per share. The business's revenue was up 44.8% compared to the same quarter last year. On average, analysts anticipate that Firefly Aerospace will post -1.97 earnings per share for the current year.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $45.12, for a total value of $169,876.80. Following the completion of the sale, the general counsel owned 142,758 shares of the company's stock, valued at approximately $6,441,240.96. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.50% of the company's stock.

Institutional Trading of Firefly Aerospace

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Firefly Aerospace during the third quarter worth approximately $26,000. CIBC Private Wealth Group LLC acquired a new stake in Firefly Aerospace during the third quarter worth approximately $26,000. California State Teachers Retirement System acquired a new stake in Firefly Aerospace during the fourth quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the 4th quarter worth $38,000. Finally, KBC Group NV acquired a new position in Firefly Aerospace in the 1st quarter valued at $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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