BlackRock Inc. Makes New Investment in Firefly Aerospace, Inc. $FLY

BlackRock Inc. purchased a new stake in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,903,830 shares of the company’s stock, valued at approximately $173,573,000.

Several other institutional investors have also modified their holdings of FLY. Vanguard Group Inc. bought a new position in Firefly Aerospace in the 3rd quarter worth about $53,409,000. Franklin Resources Inc. bought a new stake in shares of Firefly Aerospace during the third quarter valued at approximately $7,834,000. BNP Paribas Financial Markets acquired a new position in shares of Firefly Aerospace during the third quarter worth approximately $26,000. UBS Group AG bought a new position in Firefly Aerospace in the 3rd quarter worth approximately $15,587,000. Finally, Two Sigma Investments LP acquired a new stake in Firefly Aerospace in the 3rd quarter valued at approximately $1,128,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on FLY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $35.00 price target on shares of Firefly Aerospace in a research report on Tuesday, May 5th. Jefferies Financial Group set 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 research report on Thursday, June 25th. 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. Finally, 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. Seven investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.82.

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $22.16 on Friday. The company has a 50-day moving average of $24.11 and a 200-day moving average of $29.35. The firm has a market cap of $3.71 billion and a price-to-earnings ratio of -7.54. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. Firefly Aerospace, Inc. has a twelve month low of $16.00 and a twelve month high of $62.17.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.08. The business had revenue of $117.68 million during the quarter. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm’s revenue for the quarter was up 659.2% on a year-over-year basis. During the same period in the prior year, the company earned ($5.78) earnings per share. Analysts forecast that Firefly Aerospace, Inc. will post -1.91 earnings per share for the current fiscal year.

Firefly Aerospace Profile

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.