Legal & General Group Plc Takes Position in Firefly Aerospace, Inc. $FLY

Legal & General Group Plc bought a new position in Firefly Aerospace, Inc. (NASDAQ:FLY) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 44,754 shares of the company’s stock, valued at approximately $1,316,000.

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

Firefly Aerospace Stock Performance

FLY opened at $21.67 on Monday. Firefly Aerospace, Inc. has a one year low of $16.00 and a one year high of $62.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50 day simple moving average of $23.40 and a two-hundred day simple moving average of $29.36. The firm has a market capitalization of $3.63 billion and a price-to-earnings ratio of -7.37.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data 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 firm 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%.During the same quarter in the prior year, the business posted ($5.78) earnings per share. Firefly Aerospace’s quarterly revenue was up 659.2% compared to the same quarter last year. Analysts predict that Firefly Aerospace, Inc. will post -1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FLY shares. Weiss Ratings raised Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Jefferies Financial Group set a $35.00 target price on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company started coverage on shares of Firefly Aerospace in a report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace 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.