Firefly Aerospace (NASDAQ:FLY) Now Covered by Analysts at B. Riley Financial

Investment analysts at B. Riley Financial initiated coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a report released on Wednesday. The firm set a “buy” rating and a $60.00 price target on the stock. B. Riley Financial’s price target points to a potential upside of 90.36% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $35.00 price target on shares of Firefly Aerospace in a research note on Tuesday. The Goldman Sachs Group increased their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Wall Street Zen upgraded Firefly Aerospace from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Cantor Fitzgerald lowered their price objective on shares of Firefly Aerospace from $65.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.56.

Firefly Aerospace Price Performance

NASDAQ FLY opened at $31.52 on Wednesday. Firefly Aerospace has a one year low of $16.00 and a one year high of $73.80. The stock has a 50-day moving average of $29.14 and a 200 day moving average of $25.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.51 and a current ratio of 4.51. The company has a market capitalization of $5.05 billion and a price-to-earnings ratio of -3.87.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 58.52%. The firm had revenue of $80.88 million for the quarter. During the same period in the previous year, the business earned ($5.09) EPS. The business’s revenue was up 44.8% compared to the same quarter last year. On average, sell-side analysts forecast that Firefly Aerospace will post -1.8 EPS for the current year.

Insider Buying and Selling

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of Firefly Aerospace stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.04, for a total transaction of $169,620.64. Following the transaction, the general counsel owned 142,758 shares of the company’s stock, valued at $6,429,820.32. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace during the third quarter valued at about $26,000. CIBC Private Wealth Group LLC bought a new stake in Firefly Aerospace during the 3rd quarter valued at approximately $26,000. California State Teachers Retirement System purchased a new position in Firefly Aerospace in the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. purchased a new stake in Firefly Aerospace during the 4th quarter valued at approximately $38,000. Finally, NBC Securities Inc. bought a new stake in shares of Firefly Aerospace during the fourth quarter valued at approximately $38,000.

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.