Short Interest in Firefly Aerospace, Inc. (NASDAQ:FLY) Increases By 36.4%

Firefly Aerospace, Inc. (NASDAQ:FLY) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 4,716,690 shares, a growth of 36.4% from the December 15th total of 3,458,143 shares. Based on an average daily volume of 3,514,282 shares, the short-interest ratio is presently 1.3 days. Currently, 3.0% of the shares of the stock are sold short. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 3,514,282 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FLY shares. JPMorgan Chase & Co. lowered their price objective on Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Firefly Aerospace in a research note on Thursday, November 20th. They issued a “neutral” rating and a $29.00 target price on the stock. Roth Capital reiterated a “buy” rating on shares of Firefly Aerospace in a research report on Monday, November 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Firefly Aerospace from a “hold” rating to a “buy” rating and decreased their price target for the stock from $40.00 to $30.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace in the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC bought a new stake in Firefly Aerospace during the 3rd quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Firefly Aerospace during the 3rd quarter worth about $55,000. SBI Securities Co. Ltd. bought a new position in shares of Firefly Aerospace in the 3rd quarter valued at about $74,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Firefly Aerospace in the third quarter valued at about $147,000.

Firefly Aerospace Stock Up 12.3%

NASDAQ FLY traded up $3.66 during trading hours on Friday, hitting $33.41. The company’s stock had a trading volume of 5,008,749 shares, compared to its average volume of 3,558,997. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03. Firefly Aerospace has a twelve month low of $16.00 and a twelve month high of $73.80. The stock has a fifty day moving average of $22.39. The firm has a market cap of $5.32 billion and a price-to-earnings ratio of -4.59.

Firefly Aerospace (NASDAQ:FLY) last posted its earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $30.78 million for the quarter, compared to analyst estimates of $28.93 million. The business’s quarterly revenue was up 37.5% on a year-over-year basis.

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.