K.J. Harrison & Partners Inc Invests $1.32 Million in Firefly Aerospace, Inc. $FLY

K.J. Harrison & Partners Inc acquired a new position in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $1,323,000.

Several other hedge funds have also recently added to or reduced their stakes in FLY. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the third quarter worth about $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at about $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace in the 4th quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the 4th quarter worth approximately $38,000. Finally, KBC Group NV acquired a new position in Firefly Aerospace during the first quarter valued at approximately $38,000.

Firefly Aerospace Stock Performance

FLY opened at $27.18 on Tuesday. The business’s 50-day moving average price is $25.61 and its two-hundred day moving average price is $29.42. Firefly Aerospace, Inc. has a 1 year low of $16.00 and a 1 year high of $62.17. The company has a market capitalization of $4.55 billion and a price-to-earnings ratio of -9.24. 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) last posted its quarterly earnings data 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 company had revenue of $117.68 million during the quarter. During the same period in the prior year, the company earned ($5.78) earnings per share. The firm’s quarterly revenue was up 659.2% on a year-over-year basis. Equities analysts expect that Firefly Aerospace, Inc. will post -1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FLY has been the subject of a number of recent analyst reports. B. Riley Financial lowered their price objective on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings raised Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Morgan Stanley raised their price target on Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $35.00 target price on shares of Firefly Aerospace in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company began coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Firefly Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $36.82.

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.