Firefly Aerospace (NASDAQ:FLY) Trading Up 12.3% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s share price rose 12.3% during trading on Tuesday . The stock traded as high as $26.07 and last traded at $26.5320. Approximately 1,226,494 shares were traded 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

A number of brokerages recently issued reports on FLY. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. Morgan Stanley reiterated a “positive” rating on shares of Firefly Aerospace in a research note on Thursday, March 12th. UBS Group set a $33.00 price objective on shares of Firefly Aerospace in a report on Thursday, March 12th. The Goldman Sachs Group upped their target price 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. Finally, KeyCorp assumed coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.13.

Firefly Aerospace Price Performance

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 company’s fifty day moving average price is $23.24 and its 200 day moving average price is $25.24. The firm has a market capitalization of $4.76 billion and a price-to-earnings ratio of -3.24.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, topping 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. The company’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Hedge Funds Weigh In On Firefly Aerospace

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Firefly Aerospace during the third quarter worth approximately $26,000. CIBC Private Wealth Group LLC bought a new stake in Firefly Aerospace during the 3rd quarter valued at $26,000. California State Teachers Retirement System acquired a new position in Firefly Aerospace during the 4th quarter worth $30,000. Russell Investments Group Ltd. acquired a new position in Firefly Aerospace during the 4th quarter worth $38,000. Finally, NBC Securities Inc. bought a new position in shares of Firefly Aerospace in the fourth quarter worth $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.