Nissay Asset Management Corp Japan Purchases New Shares in Firefly Aerospace, Inc. $FLY

Nissay Asset Management Corp Japan purchased a new position in Firefly Aerospace, Inc. (NASDAQ:FLY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 313,052 shares of the company’s stock, valued at approximately $9,204,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Firefly Aerospace in the third quarter valued at about $26,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Firefly Aerospace during the third quarter worth about $26,000. KBC Group NV acquired a new position in shares of Firefly Aerospace during the 1st quarter worth about $38,000. California State Teachers Retirement System purchased a new position in Firefly Aerospace in the 4th quarter valued at about $30,000. Finally, Russell Investments Group Ltd. acquired a new stake in Firefly Aerospace in the 4th quarter worth about $38,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLY. Morgan Stanley boosted their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Wells Fargo & Company began coverage on Firefly Aerospace in a research report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price target for the company. KeyCorp raised Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research note on Monday, June 15th. Finally, Roth Capital decreased their price objective on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.82.

Firefly Aerospace Stock Down 4.1%

Shares of NASDAQ FLY opened at $21.26 on Friday. The stock has a market cap of $3.56 billion and a PE ratio of -7.23. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. Firefly Aerospace, Inc. has a 12-month low of $16.00 and a 12-month high of $62.17. The company has a 50-day moving average of $23.91 and a 200 day moving average of $29.29.

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

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.