Ieq Capital LLC Invests $5.25 Million in Firefly Aerospace, Inc. $FLY

Ieq Capital LLC purchased a new stake in Firefly Aerospace, Inc. (NASDAQ:FLY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 178,688 shares of the company’s stock, valued at approximately $5,253,000.

Several other hedge funds have also added to or reduced their stakes in FLY. BNP Paribas Financial Markets acquired a new stake in Firefly Aerospace during the 3rd quarter worth $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the third quarter worth about $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace in the fourth quarter worth about $30,000. NBC Securities Inc. acquired a new stake in shares of Firefly Aerospace during the fourth quarter worth about $38,000. Finally, KBC Group NV bought a new position in shares of Firefly Aerospace during the 1st quarter valued at about $38,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Roth Capital decreased their price objective on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Jefferies Financial Group set a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Morgan Stanley upped their price target on shares of Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Sunday. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Firefly Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $36.82.

Firefly Aerospace Price Performance

Shares of NASDAQ FLY opened at $24.45 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50-day moving average of $24.84 and a 200-day moving average of $29.39. The stock has a market capitalization of $4.09 billion and a price-to-earnings ratio of -8.32. Firefly Aerospace, Inc. has a fifty-two week low of $16.00 and a fifty-two week high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) 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 business had revenue of $117.68 million for the quarter. During the same quarter in the previous year, the company posted ($5.78) EPS. The business’s revenue was up 659.2% on a year-over-year basis. As a group, sell-side analysts predict that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

Firefly Aerospace 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.