Firefly Aerospace, Inc. (NASDAQ:FLY) Stock Has Consensus Price Target of $36.82

Firefly Aerospace, Inc. (NASDAQ:FLY) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $36.58.

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a report on Tuesday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Barclays initiated coverage on Firefly Aerospace in a report on Friday. They issued an “equal weight” rating and a $34.00 price target for the company. Roth Capital decreased their price target on Firefly Aerospace from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group set a $35.00 price objective on Firefly Aerospace in a report on Wednesday, August 12th.

Firefly Aerospace Stock Down 3.2%

FLY stock opened at $20.00 on Wednesday. The stock has a market capitalization of $3.35 billion, a PE ratio of -6.80 and a beta of 0.59. The company has a fifty day moving average of $22.94 and a 200-day moving average of $29.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.73 and a current ratio of 2.73. Firefly Aerospace has a one year low of $16.00 and a one year high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results 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 net margin of 126.64% and a negative return on equity of 22.28%. The company’s revenue was up 659.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($5.78) earnings per share. As a group, analysts expect that Firefly Aerospace will post -2.31 EPS for the current year.

Hedge Funds Weigh In On Firefly Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Firefly Aerospace during the 2nd quarter valued at approximately $173,573,000. Tema ETFs LLC grew its holdings in shares of Firefly Aerospace by 133,440.2% in the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after acquiring an additional 2,279,159 shares during the period. Tidal Investments LLC purchased a new position in Firefly Aerospace in the 2nd quarter valued at approximately $63,714,000. Van ECK Associates Corp increased its stake in Firefly Aerospace by 43.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock valued at $89,621,000 after purchasing an additional 927,804 shares in the last quarter. Finally, Temasek Holdings Private Ltd raised its holdings in Firefly Aerospace by 151.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock worth $23,927,000 after purchasing an additional 643,886 shares during the last quarter.

About Firefly Aerospace

Firefly Aerospace, Inc is a space transportation and exploration company headquartered in Cedar Park, Texas. The company develops launch vehicles, lunar landers, spacecraft and related in-space services for government and commercial customers. Its operations support missions ranging from satellite deployment and scientific research to lunar exploration and national security applications.

Firefly’s primary launch vehicle is Alpha, a small- to medium-class orbital rocket designed to carry payloads into low Earth orbit.