Firefly Aerospace (NASDAQ:FLY) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $25.00 target price on the stock.

A number of other research analysts have also recently weighed in on the company. Roth Capital lifted their target price on Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a report on Friday, April 17th. The Goldman Sachs Group upped their price target on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. B. Riley Financial assumed coverage on Firefly Aerospace in a research note on Wednesday, May 6th. They issued a “buy” rating and a $60.00 price objective on the stock. KeyCorp upgraded 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. Finally, Jefferies Financial Group reissued a “buy” rating and set a $52.00 target price on shares of Firefly Aerospace in a research report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.64.

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $17.82 on Monday. The company has a market cap of $2.85 billion and a P/E ratio of -2.19. The firm’s 50 day moving average is $31.13 and its two-hundred day moving average is $29.92. Firefly Aerospace has a fifty-two week low of $16.00 and a fifty-two week high of $73.80. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $80.88 million during the quarter. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($5.09) earnings per share. Analysts expect that Firefly Aerospace will post -1.97 EPS for the current year.

Insiders Place Their Bets

In related 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tema ETFs LLC boosted its position in shares of Firefly Aerospace by 133,440.2% in the second quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after buying an additional 2,279,159 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Firefly Aerospace during the 3rd quarter valued at about $53,409,000. UBS Group AG lifted its position in Firefly Aerospace by 233.6% during the 4th 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. Temasek Holdings Private Ltd lifted its position in Firefly Aerospace by 151.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock worth $23,927,000 after acquiring an additional 643,886 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in Firefly Aerospace in the 4th quarter worth approximately $11,607,000.

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.