Firefly Aerospace, Inc. (FLY) – What Are Brokerages Thinking About This Stock?

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.50.

FLY has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Firefly Aerospace in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a report on Wednesday, August 12th. KeyCorp cut their price objective on shares of Firefly Aerospace from $50.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Barclays initiated coverage on shares of Firefly Aerospace in a research note on Friday, October 9th. They set an “equal weight” rating and a $34.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday.

Hedge Funds Weigh In On Firefly Aerospace

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Firefly Aerospace in the second quarter worth $173,573,000. Tema ETFs LLC boosted its holdings in shares of Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after buying an additional 2,279,159 shares during the period. Tidal Investments LLC acquired a new position in Firefly Aerospace in the 2nd quarter valued at $63,714,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Firefly Aerospace in the 3rd quarter valued at $23,354,000. Finally, Van ECK Associates Corp raised its holdings in Firefly Aerospace by 43.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock worth $89,621,000 after acquiring an additional 927,804 shares during the period.

Key Firefly Aerospace News

Here are the key news stories impacting Firefly Aerospace this week:

• Positive Sentiment: Firefly signed a three-year agreement valued at more than $1.3 billion to supply engines, license intellectual property, and provide engineering support for AST SpaceMobile’s planned Blacklift heavy-lift rocket. AST will initially buy 36 engines and may build additional engines under the license, creating a significant potential revenue stream for Firefly. Reuters article
• Positive Sentiment: Firefly said the agreement will provide funds to help accelerate production of its own launch vehicles. The sizeable contract and potential manufacturing relationship are likely drivers of the positive investor response. Firefly Aerospace announcement
• Neutral Sentiment: The agreement runs over three years, so the headline value represents a multi-year opportunity rather than immediate revenue; delivery and production execution will matter to realizing its full benefit.

Firefly Aerospace Stock Performance

Shares of FLY stock opened at $20.76 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $20.31 and a two-hundred day moving average of $26.83. Firefly Aerospace has a 52 week low of $14.44 and a 52 week high of $62.17. The company has a market cap of $3.48 billion, a P/E ratio of -7.06 and a beta of 0.84.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%. The company’s revenue for the quarter was up 659.2% on a year-over-year basis. During the same period last year, the business posted ($5.78) EPS. As a group, analysts anticipate that Firefly Aerospace will post -2.31 EPS for the current year.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation and technology company that develops launch vehicles, lunar landers and in-space mobility systems for government and commercial customers. Based in Cedar Park, Texas, the company supports missions across the launch, lunar and orbital services markets.

Firefly’s principal products include the Alpha small-to-medium-lift launch vehicle, which is designed to place satellites and other payloads into low Earth orbit; Blue Ghost lunar landers, developed to deliver scientific and commercial payloads to the Moon; and Elytra spacecraft, intended to provide in-space transportation and mission services.