Firefly Aerospace (NASDAQ:FLY) Stock Price Up 8.8% – Here’s What Happened

Firefly Aerospace, Inc. (NASDAQ:FLY) shares shot up 8.8% on Tuesday . The company traded as high as $26.98 and last traded at $27.4070. 879,301 shares were traded during mid-day trading, a decline of 76% from the average session volume of 3,639,168 shares. The stock had previously closed at $25.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Mkm reiterated a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. KeyCorp initiated coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted 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 Tuesday, January 20th. Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a report on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.71.

Firefly Aerospace Trading Up 16.5%

The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $4.68 billion and a price-to-earnings ratio of -4.03. The business has a fifty day moving average price of $23.54.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The firm had revenue of $30.78 million for the quarter, compared to analysts’ expectations of $28.93 million. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year.

Institutional Investors Weigh In On Firefly Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Firefly Aerospace during the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Firefly Aerospace in the third quarter worth approximately $55,000. SBI Securities Co. Ltd. bought a new stake in Firefly Aerospace during the 3rd quarter valued at $74,000. Finally, Sandia Investment Management LP bought a new stake in Firefly Aerospace in the 3rd quarter worth $147,000.

Firefly Aerospace Company Profile

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.