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

Firefly Aerospace, Inc. (NASDAQ:FLY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $33.44, but opened at $34.75. Firefly Aerospace shares last traded at $34.2540, with a volume of 1,345,353 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $52.00 target price on shares of Firefly Aerospace in a report on Tuesday, June 2nd. Wall Street Zen raised Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 7th. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Roth Mkm upped their price target on Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Firefly Aerospace presently has a consensus rating of “Hold” and a consensus target price of $41.33.

Firefly Aerospace Stock Performance

The stock has a market capitalization of $6.31 billion and a price-to-earnings ratio of -4.83. The company’s fifty day simple moving average is $39.73 and its 200 day simple moving average is $29.14. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The business had revenue of $80.88 million during the quarter. During the same period in the previous year, the firm posted ($5.09) EPS. The business’s quarterly revenue was up 44.8% on a year-over-year basis. On average, equities research analysts expect that Firefly Aerospace, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,766 shares of the firm’s 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 transaction, the general counsel owned 142,758 shares in the company, valued at approximately $6,429,820.32. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Firefly Aerospace

Several hedge funds have recently bought and sold shares of FLY. AE Industrial Partners LP acquired a new position in shares of Firefly Aerospace in the 3rd quarter valued at approximately $1,063,863,000. Vanguard Group Inc. acquired a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $53,409,000. Hudson Bay Capital Management LP bought a new position in Firefly Aerospace in the third quarter valued at approximately $50,711,000. UBS Group AG raised its position in Firefly Aerospace by 233.6% during the fourth 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 in the last quarter. Finally, Capital World Investors bought a new stake in Firefly Aerospace during the third quarter worth $35,337,000.

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.