Firefly Aerospace (NASDAQ:FLY) Shares Gap Up – Here’s What Happened

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) gapped up before the market opened on Monday . The stock had previously closed at $40.43, but opened at $43.31. Firefly Aerospace shares last traded at $45.1290, with a volume of 2,958,522 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. B. Riley Financial assumed coverage on shares of Firefly Aerospace in a research report on Wednesday, May 6th. They set a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings cut Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Jefferies Financial Group boosted their price objective on Firefly Aerospace from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Roth Mkm boosted their price objective on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.56.

Firefly Aerospace Price Performance

The company has a 50-day moving average of $31.96 and a 200 day moving average of $26.10. 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 stock has a market capitalization of $7.01 billion and a PE ratio of -5.33.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $80.88 million for the quarter. During the same period last year, the firm posted ($5.09) EPS. The business’s quarterly revenue was up 44.8% on a year-over-year basis. Sell-side analysts predict that Firefly Aerospace, Inc. will post -1.81 EPS for the current year.

Insider Buying and Selling at Firefly Aerospace

In other news, General Counsel David Leigh Wheeler sold 3,766 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the transaction, the general counsel directly owned 142,758 shares of the company’s stock, valued at $6,429,820.32. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of Firefly Aerospace

A number of institutional investors have recently bought and sold shares of FLY. AE Industrial Partners LP purchased a new stake in Firefly Aerospace during the third quarter worth $1,063,863,000. Vanguard Group Inc. purchased a new stake in Firefly Aerospace during the third quarter worth $53,409,000. Hudson Bay Capital Management LP acquired a new position in shares of Firefly Aerospace in the third quarter worth $50,711,000. UBS Group AG raised its holdings in shares of Firefly Aerospace by 233.6% in the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after acquiring an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors purchased a new position in Firefly Aerospace in the 3rd quarter valued at about $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.