Firefly Aerospace Sees Unusually Large Options Volume (NASDAQ:FLY)

Firefly Aerospace, Inc. (NASDAQ:FLY) was the recipient of unusually large options trading activity on Wednesday. Traders bought 28,970 call options on the company. This is an increase of approximately 171% compared to the typical volume of 10,685 call options.

Firefly Aerospace Stock Up 16.6%

Shares of NASDAQ:FLY traded up $3.93 during trading on Wednesday, reaching $27.66. 6,750,843 shares of the company traded hands, compared to its average volume of 3,866,741. The firm has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $25.82. The company has a quick ratio of 6.20, a current ratio of 4.51 and a debt-to-equity ratio of 0.24. Firefly Aerospace has a 1-year low of $16.00 and a 1-year high of $73.80. The firm has a market cap of $4.42 billion and a P/E ratio of -3.01.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.10. The business had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.The company’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLY. Weiss Ratings reissued a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. The Goldman Sachs Group lifted their price target on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. KeyCorp began coverage on Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Morgan Stanley restated a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Finally, UBS Group set a $33.00 target price on Firefly Aerospace in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.88.

Institutional Investors Weigh In On Firefly Aerospace

Institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC bought a new position in Firefly Aerospace during the third quarter valued at approximately $19,386,000. TD Asset Management Inc bought a new stake in Firefly Aerospace in the third quarter worth approximately $4,353,000. Liontrust Investment Partners LLP acquired a new position in shares of Firefly Aerospace during the 3rd quarter worth $1,790,000. Hudson Bay Capital Management LP bought a new position in shares of Firefly Aerospace during the 3rd quarter valued at $50,711,000. Finally, Phoenix Financial Ltd. acquired a new stake in shares of Firefly Aerospace in the 3rd quarter valued at $14,468,000.

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.