Firefly Aerospace (NASDAQ:FLY) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Firefly Aerospace (NASDAQ:FLY) from a sell rating to a hold rating in a research report sent to investors on Sunday.

Several other brokerages have also recently weighed in on FLY. KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a research report on Monday, June 15th. B. Riley Financial lowered their price objective on shares of Firefly Aerospace from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company assumed coverage on shares of Firefly Aerospace in a research report on Monday, July 27th. They set an “equal weight” rating and a $25.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.82.

Firefly Aerospace Stock Performance

NASDAQ FLY opened at $24.45 on Friday. The stock has a market capitalization of $4.09 billion and a PE ratio of -8.32. The business has a 50 day simple moving average of $24.84 and a two-hundred day simple moving average of $29.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.73. Firefly Aerospace has a 1-year low of $16.00 and a 1-year high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The business had revenue of $117.68 million for the quarter. Firefly Aerospace had a negative return on equity of 22.28% and a negative net margin of 126.64%.The business’s revenue was up 659.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($5.78) EPS. On average, research analysts predict that Firefly Aerospace will post -1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of FLY. BNP Paribas Financial Markets bought a new stake in shares of Firefly Aerospace during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC bought a new position in Firefly Aerospace in the 3rd quarter valued at $26,000. KBC Group NV purchased a new stake in Firefly Aerospace in the first quarter worth $38,000. California State Teachers Retirement System purchased a new stake in Firefly Aerospace in the fourth quarter worth $30,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Firefly Aerospace during the fourth quarter worth $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.