Firefly Aerospace (NASDAQ:FLY) Stock Price Up 3.9% – What’s Next?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares shot up 3.9% during trading on Monday . The company traded as high as $24.75 and last traded at $24.2610. 618,273 shares traded hands during trading, a decline of 71% from the average session volume of 2,117,292 shares. The stock had previously closed at $23.34.

Wall Street Analysts Forecast Growth

FLY has been the subject of a number of analyst reports. Zacks Research raised shares of Firefly Aerospace to a “hold” rating in a research note on Thursday, September 4th. Jefferies Financial Group raised Firefly Aerospace to a “strong-buy” rating in a report on Tuesday, September 2nd. Morgan Stanley cut their target price on Firefly Aerospace from $52.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. The Goldman Sachs Group started coverage on Firefly Aerospace in a research note on Thursday, November 20th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.43.

Firefly Aerospace Trading Up 2.7%

The company has a fifty day moving average of $21.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20.

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

Institutional Investors Weigh In On Firefly Aerospace

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

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.