Phoenix Financial Ltd. Buys New Stake in Firefly Aerospace, Inc. $FLY

Phoenix Financial Ltd. purchased a new position in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) during the third quarter, Holdings Channel.com reports. The fund purchased 493,461 shares of the company’s stock, valued at approximately $14,468,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLY. LBP AM SA acquired a new position in shares of Firefly Aerospace in the third quarter worth about $1,795,000. Teacher Retirement System of Texas purchased a new position in Firefly Aerospace during the third quarter worth approximately $3,836,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Firefly Aerospace in the third quarter valued at approximately $293,000. Finally, Canal Insurance CO purchased a new stake in shares of Firefly Aerospace in the third quarter valued at approximately $293,000.

Firefly Aerospace Price Performance

FLY opened at $25.20 on Tuesday. The stock has a market cap of $4.01 billion and a price-to-earnings ratio of -3.46. The business has a 50 day simple moving average of $23.54. Firefly Aerospace, Inc. has a 1-year low of $16.00 and a 1-year high of $73.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.20 and a quick ratio of 6.20.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $30.78 million for the quarter, compared to analysts’ expectations of $28.93 million. The company’s revenue for the quarter was up 37.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

FLY has been the topic of a number of research analyst reports. Roth Mkm reissued a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. The Goldman Sachs Group lifted their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Firefly Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.

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.