Firefly Aerospace (NASDAQ:FLY) Shares Up 12% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY) shot up 12% on Thursday . The stock traded as high as $37.21 and last traded at $37.4420. 1,501,856 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 5,713,230 shares. The stock had previously closed at $33.42.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FLY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Tuesday, May 5th. 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 price target on Firefly Aerospace in a research note on Thursday, March 12th. B. Riley Financial assumed coverage on Firefly Aerospace in a research note on Wednesday, May 6th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Firefly Aerospace presently has an average rating of “Hold” and an average price target of $41.33.

Firefly Aerospace Stock Performance

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 50 day moving average of $39.77 and a 200 day moving average of $29.16. The firm has a market cap of $5.11 billion and a price-to-earnings ratio of -3.91.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly 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 return on equity of 40.96% and a negative net margin of 181.16%.The business had revenue of $80.88 million for the quarter. During the same quarter last year, the firm posted ($5.09) EPS. The company’s revenue was up 44.8% compared to the same quarter last year. As a group, equities research analysts expect that Firefly Aerospace, Inc. will post -1.95 EPS for the current fiscal year.

Insider Activity at Firefly Aerospace

In related news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction dated 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. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Firefly Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of the company. AE Industrial Partners LP acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $1,063,863,000. Vanguard Group Inc. acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $53,409,000. Hudson Bay Capital Management LP acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $50,711,000. UBS Group AG raised its stake 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 buying an additional 1,241,987 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Firefly Aerospace during the third quarter valued at approximately $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.