WCM Investment Management LLC Sells 340,611 Shares of Firefly Aerospace, Inc. $FLY

WCM Investment Management LLC cut its holdings in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 340,730 shares of the company’s stock after selling 340,611 shares during the period. WCM Investment Management LLC owned approximately 0.21% of Firefly Aerospace worth $9,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLY. LBP AM SA lifted its stake in Firefly Aerospace by 265.5% in the fourth quarter. LBP AM SA now owns 223,855 shares of the company’s stock valued at $5,008,000 after buying an additional 162,617 shares in the last quarter. UBS Group AG increased its position in shares of Firefly Aerospace by 233.6% during 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 in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Firefly Aerospace during the third quarter worth $19,471,000. Huntleigh Advisors Inc. bought a new stake in Firefly Aerospace in the 4th quarter valued at $1,013,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Firefly Aerospace in the 4th quarter worth $1,090,000.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 7th. Weiss Ratings upgraded Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. B. Riley Financial initiated coverage on Firefly Aerospace in a research report on Wednesday, May 6th. They issued a “buy” rating and a $60.00 target price on the stock. Roth Capital boosted their target price on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, The Goldman Sachs Group raised their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Firefly Aerospace has an average rating of “Moderate Buy” and an average target price of $42.20.

Insiders Place Their Bets

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,765 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $45.12, for a total transaction of $169,876.80. Following the sale, the general counsel directly owned 142,758 shares of the company’s stock, valued at approximately $6,441,240.96. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.50% of the company’s stock.

Firefly Aerospace Stock Performance

Shares of NASDAQ FLY opened at $19.67 on Tuesday. The stock has a 50 day moving average price of $34.20 and a 200 day moving average price of $30.18. Firefly Aerospace, Inc. has a 52 week low of $16.00 and a 52 week high of $73.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.53 and a current ratio of 2.53. The stock has a market capitalization of $3.15 billion and a PE ratio of -2.41.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned ($5.09) EPS. Analysts predict that Firefly Aerospace, Inc. will post -1.97 earnings per share 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.