Firefly Aerospace (NASDAQ:FLY) Shares Gap Up – Still a Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $33.44, but opened at $34.75. Firefly Aerospace shares last traded at $34.2540, with a volume of 1,345,353 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $52.00 price objective on shares of Firefly Aerospace in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Wall Street Zen raised Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research report on Sunday. The Goldman Sachs Group raised their price target on Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings lowered Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.33.

Firefly Aerospace Stock Performance

The stock’s 50 day moving average price is $39.31 and its 200 day moving average price is $28.86. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.33 billion and a price-to-earnings ratio of -4.08.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned ($5.09) EPS. Analysts expect that Firefly Aerospace, Inc. will post -1.95 earnings per share for the current year.

Insider Buying and Selling at Firefly Aerospace

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,766 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC acquired a new position in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. California State Teachers Retirement System acquired a new position in shares of Firefly Aerospace during the 4th quarter worth approximately $30,000. NBC Securities Inc. acquired a new position in shares of Firefly Aerospace during the 4th quarter worth approximately $38,000. Finally, KBC Group NV acquired a new position in shares of Firefly Aerospace during the 1st quarter worth 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.