Firefly Aerospace (NASDAQ:FLY) Stock Price Up 9.6% – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price rose 9.6% during mid-day trading on Tuesday . The stock traded as high as $20.38 and last traded at $21.1540. Approximately 881,063 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,524,139 shares. The stock had previously closed at $19.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Roth Mkm reiterated a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. Morgan Stanley set a $33.00 price target on Firefly Aerospace in a research note on Friday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.71.

Firefly Aerospace Trading Up 0.3%

The company has a debt-to-equity ratio of 0.03, a current ratio of 6.20 and a quick ratio of 6.20. The company has a market capitalization of $3.43 billion and a PE ratio of -2.96. The company has a 50-day simple moving average of $25.18.

Institutional Inflows and Outflows

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

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.