Firefly Aerospace (NASDAQ:FLY) Shares Up 12.1% – Should You Buy?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) rose 12.1% on Friday . The company traded as high as $47.19 and last traded at $48.0550. Approximately 2,044,817 shares were traded during trading, a decline of 60% from the average daily volume of 5,118,433 shares. The stock had previously closed at $42.86.

Analysts Set New Price Targets

FLY has been the topic of a number of recent research reports. Roth Mkm raised their price objective on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. The Goldman Sachs Group raised their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings downgraded Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Morgan Stanley raised their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group raised their price objective on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.56.

Firefly Aerospace Stock Performance

The business has a 50 day simple moving average of $33.82 and a 200 day simple moving average of $26.62. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $7.68 billion and a PE ratio of -5.86.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, beating 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 company had revenue of $80.88 million during the quarter. During the same quarter last year, the business posted ($5.09) earnings per share. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. Equities research analysts predict that Firefly Aerospace, Inc. will post -1.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,765 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $45.12, for a total value of $169,876.80. Following the completion of the sale, the general counsel directly owned 142,758 shares in the company, valued at approximately $6,441,240.96. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AE Industrial Partners LP purchased a new stake in Firefly Aerospace in the third quarter valued at about $1,063,863,000. Vanguard Group Inc. purchased a new position in shares of Firefly Aerospace in the third quarter worth about $53,409,000. Hudson Bay Capital Management LP purchased a new position in shares of Firefly Aerospace in the third quarter worth about $50,711,000. UBS Group AG raised its stake in shares of Firefly Aerospace by 233.6% in the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after purchasing an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Firefly Aerospace in the third quarter worth about $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.