Firefly Aerospace (NASDAQ:FLY) Shares Gap Up – Here’s What Happened

Firefly Aerospace, Inc. (NASDAQ:FLY) shares gapped up before the market opened on Monday . The stock had previously closed at $40.43, but opened at $43.31. Firefly Aerospace shares last traded at $45.1290, with a volume of 2,958,522 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on FLY shares. Jefferies Financial Group raised their price target on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 13th. UBS Group set a $33.00 target price on Firefly Aerospace in a report on Thursday, March 12th. Cantor Fitzgerald lowered their target price on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Morgan Stanley lifted their target price on Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Firefly Aerospace currently has an average rating of “Hold” and a consensus target price of $40.56.

Firefly Aerospace Trading Down 3.1%

The business has a fifty day moving average of $32.89 and a 200-day moving average of $26.36. The stock has a market capitalization of $6.82 billion and a price-to-earnings ratio of -5.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 2.53.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The firm had revenue of $80.88 million for the quarter. During the same period in the previous year, the firm earned ($5.09) earnings per share. Firefly Aerospace’s revenue was up 44.8% on a year-over-year basis. On average, equities analysts anticipate that Firefly Aerospace, Inc. will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,766 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.04, for a total value of $169,620.64. Following the completion of the transaction, the general counsel owned 142,758 shares in the company, valued at $6,429,820.32. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Firefly Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Firefly Aerospace by 55.8% in the 1st quarter. Bank of America Corp DE now owns 299,042 shares of the company’s stock valued at $8,514,000 after purchasing an additional 107,080 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Firefly Aerospace in the 1st quarter valued at $503,000. California State Teachers Retirement System boosted its position in shares of Firefly Aerospace by 2,259.2% in the 1st quarter. California State Teachers Retirement System now owns 31,189 shares of the company’s stock valued at $888,000 after purchasing an additional 29,867 shares during the period. Royal Bank of Canada boosted its position in Firefly Aerospace by 1,803.9% during the 1st quarter. Royal Bank of Canada now owns 225,782 shares of the company’s stock worth $6,428,000 after acquiring an additional 213,923 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Firefly Aerospace during the 1st quarter worth about $906,000.

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.