Firefly Aerospace (NASDAQ:FLY) Shares Up 9.8% – Still a Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares shot up 9.8% on Monday . The stock traded as high as $20.18 and last traded at $21.1590. 487,135 shares were traded during trading, a decline of 85% from the average session volume of 3,283,969 shares. The stock had previously closed at $19.27.

Analyst Ratings Changes

FLY has been the subject of several recent research reports. Morgan Stanley set a $33.00 target price on shares of Firefly Aerospace in a research report on Friday, January 16th. JPMorgan Chase & Co. cut their price target on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. KeyCorp initiated coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft raised Firefly Aerospace from a “hold” rating to a “buy” rating and lowered their price target for the company from $40.00 to $30.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Firefly Aerospace currently has an average rating of “Moderate Buy” and an average target price of $39.71.

Firefly Aerospace Stock Up 1.2%

The stock has a 50-day moving average of $24.83 and a 200 day moving average of $28.25. The company has a market capitalization of $3.36 billion and a PE ratio of -2.90. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03.

Institutional Trading of Firefly Aerospace

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC purchased a new stake in Firefly Aerospace in the third quarter worth $26,000. California State Teachers Retirement System bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at $30,000. Russell Investments Group Ltd. bought a new stake in shares of Firefly Aerospace in the fourth quarter valued at $38,000. Finally, NBC Securities Inc. purchased a new position in shares of Firefly Aerospace during the 4th quarter valued at $38,000.

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.