Firefly Aerospace, Inc. (NASDAQ:FLY) Receives Average Recommendation of “Hold” from Analysts

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) have earned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.5556.

Several analysts recently issued reports on FLY shares. Weiss Ratings cut Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. The Goldman Sachs Group raised their price target on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, April 20th. B. Riley Financial initiated coverage on Firefly Aerospace in a report on Wednesday, May 6th. They set a “buy” rating and a $60.00 price target for the company. Cantor Fitzgerald cut their price target on Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Finally, Morgan Stanley raised their price target on Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th.

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $40.43 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The stock has a 50-day moving average price of $31.96 and a 200 day moving average price of $26.11. The stock has a market capitalization of $6.48 billion and a P/E ratio of -4.96.

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 the consensus estimate 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 during the quarter. During the same quarter in the prior year, the business posted ($5.09) EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities research analysts forecast that Firefly Aerospace will post -1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.04, for a total transaction 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 filing with the SEC, which is available through this link. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Firefly Aerospace

Several institutional investors have recently added to or reduced their stakes in the company. AE Industrial Partners LP purchased a new position in Firefly Aerospace during the 3rd quarter valued at approximately $1,063,863,000. Vanguard Group Inc. bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $53,409,000. Hudson Bay Capital Management LP bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $50,711,000. UBS Group AG lifted its stake in shares of Firefly Aerospace by 233.6% in the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after purchasing an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $35,337,000.

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.