Firefly Aerospace (NASDAQ:FLY) Stock Price Up 8.3% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price shot up 8.3% on Monday . The stock traded as high as $22.65 and last traded at $22.71. Approximately 914,850 shares traded hands during trading, a decline of 82% from the average session volume of 5,117,827 shares. The stock had previously closed at $20.97.

Analyst Ratings Changes

A number of research analysts have commented on the company. B. Riley Financial decreased their price objective on Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. KeyCorp raised Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Monday, June 15th. Jefferies Financial Group set a $35.00 target price on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Wells Fargo & Company initiated coverage on shares of Firefly Aerospace in a research note on Monday, July 27th. They issued an “equal weight” rating and a $25.00 price target on the stock. Finally, Wall Street Zen lowered shares of Firefly Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.82.

Firefly Aerospace Price Performance

The stock has a market capitalization of $3.91 billion and a price-to-earnings ratio of -7.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73. The company has a fifty day simple moving average of $22.24 and a two-hundred day simple moving average of $29.43.

Firefly Aerospace (NASDAQ:FLY) last released its 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. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The company had revenue of $117.68 million for the quarter. During the same period last year, the company posted ($5.78) earnings per share. The business’s revenue for the quarter was up 659.2% compared to the same quarter last year. As a group, equities research analysts expect that Firefly Aerospace, Inc. will post -2.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Firefly Aerospace

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC bought a new position in Firefly Aerospace in the second quarter valued at about $63,714,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace in the second quarter worth about $56,000. Arizona State Retirement System boosted its stake in shares of Firefly Aerospace by 76.7% in the 2nd quarter. Arizona State Retirement System now owns 15,462 shares of the company’s stock valued at $455,000 after purchasing an additional 6,714 shares in the last quarter. Corient Private Wealth LP acquired a new stake in shares of Firefly Aerospace in the 2nd quarter valued at approximately $742,000. Finally, HighTower Advisors LLC bought a new stake in shares of Firefly Aerospace during the 2nd quarter valued at approximately $211,000.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.