Firefly Aerospace, Inc. (NASDAQ:FLY) Short Interest Up 18.4% in February

Firefly Aerospace, Inc. (NASDAQ:FLY) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 6,422,012 shares, an increase of 18.4% from the February 12th total of 5,423,391 shares. Currently, 4.0% of the company’s shares are sold short. Based on an average daily volume of 2,344,174 shares, the days-to-cover ratio is presently 2.7 days. Based on an average daily volume of 2,344,174 shares, the days-to-cover ratio is presently 2.7 days. Currently, 4.0% of the company’s shares are sold short.

Analysts Set New Price Targets

FLY has been the subject of several analyst reports. KeyCorp started coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating for the company. The Goldman Sachs Group lifted their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. UBS Group set a $33.00 price target on Firefly Aerospace in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Firefly Aerospace has a consensus rating of “Moderate Buy” and an average target price of $38.88.

Institutional Trading of Firefly Aerospace

Several large investors have recently added to or reduced their stakes in the stock. Canal Insurance CO bought a new position in shares of Firefly Aerospace in the 3rd quarter worth approximately $293,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Firefly Aerospace in the third quarter worth $293,000. Teacher Retirement System of Texas bought a new position in Firefly Aerospace in the third quarter worth $3,836,000. LBP AM SA bought a new position in Firefly Aerospace in the third quarter worth $1,795,000. Finally, Phoenix Financial Ltd. purchased a new position in Firefly Aerospace during the third quarter valued at $14,468,000.

Firefly Aerospace Stock Performance

NASDAQ FLY traded up $0.65 on Tuesday, hitting $24.58. The company’s stock had a trading volume of 3,053,769 shares, compared to its average volume of 3,209,960. Firefly Aerospace has a 52-week low of $16.00 and a 52-week high of $73.80. The company’s 50-day simple moving average is $24.29 and its 200 day simple moving average is $26.54. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03.

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.