Wall Street Zen Upgrades Firefly Aerospace (NASDAQ:FLY) to “Hold”

Firefly Aerospace (NASDAQ:FLY) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley raised their target price 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. KeyCorp raised shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They set an “equal weight” rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.82.

Firefly Aerospace Stock Performance

Shares of FLY opened at $23.10 on Friday. The firm has a market cap of $3.87 billion and a PE ratio of -7.86. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $24.63 and a 200-day moving average price of $29.38. Firefly Aerospace has a 12 month low of $16.00 and a 12 month high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The company had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The business’s quarterly revenue was up 659.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($5.78) earnings per share. Equities research analysts predict that Firefly Aerospace will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Firefly Aerospace

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new position in Firefly Aerospace during the third quarter worth about $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. KBC Group NV purchased a new position in shares of Firefly Aerospace during the 1st quarter worth approximately $38,000. California State Teachers Retirement System acquired a new stake in Firefly Aerospace in the 4th quarter valued at approximately $30,000. Finally, Russell Investments Group Ltd. purchased a new stake in Firefly Aerospace in the fourth quarter valued at approximately $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.