Firefly Aerospace (NASDAQ:FLY) Shares Up 7% – Should You Buy?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) shot up 7% on Wednesday. The company traded as high as $17.34 and last traded at $17.4450. Approximately 280,505 shares traded hands during trading, a decline of 94% from the average session volume of 4,912,957 shares. The stock had previously closed at $16.31.

Analyst Upgrades and Downgrades

A number of research firms have commented on FLY. Wall Street Zen lowered Firefly Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Barclays initiated coverage on Firefly Aerospace in a report on Friday, October 9th. They issued an “equal weight” rating and a $34.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. Finally, Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.58.

Firefly Aerospace Price Performance

The company has a 50 day moving average price of $21.96 and a 200 day moving average price of $29.03. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -5.89 and a beta of 0.59. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The company’s revenue was up 659.2% compared to the same quarter last year. During the same period last year, the company earned ($5.78) EPS. As a group, equities research analysts forecast that Firefly Aerospace, Inc. will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On Firefly Aerospace

Institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. boosted its position in shares of Firefly Aerospace by 12.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,830 shares of the company’s stock worth $366,000 after purchasing an additional 1,775 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Firefly Aerospace by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 9,511 shares of the company’s stock worth $220,000 after purchasing an additional 567 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Firefly Aerospace by 8.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 19,412 shares of the company’s stock valued at $449,000 after purchasing an additional 1,442 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Firefly Aerospace during the 2nd quarter worth about $63,714,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Firefly Aerospace during the 2nd quarter worth about $56,000.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.