Caitong International Asset Management Co. Ltd Raises Position in Firefly Aerospace, Inc. $FLY

Caitong International Asset Management Co. Ltd grew its position in shares of Firefly Aerospace, Inc. (NASDAQ:FLY) by 140.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,689 shares of the company’s stock after acquiring an additional 16,745 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Firefly Aerospace were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Firefly Aerospace during the third quarter valued at about $26,000. CIBC Private Wealth Group LLC purchased a new stake in Firefly Aerospace in the 3rd quarter valued at about $26,000. California State Teachers Retirement System bought a new position in shares of Firefly Aerospace during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new position in shares of Firefly Aerospace during the 4th quarter worth approximately $38,000. Finally, NBC Securities Inc. purchased a new position in shares of Firefly Aerospace in the 4th quarter worth approximately $38,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $52.00 price objective on shares of Firefly Aerospace in a research report on Tuesday, June 2nd. UBS Group set a $33.00 target price on Firefly Aerospace in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $35.00 target price on shares of Firefly Aerospace in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Firefly Aerospace from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. Finally, Morgan Stanley increased their price target on shares of Firefly Aerospace from $33.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Insiders Place Their Bets

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

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $30.95 on Friday. The company has a market capitalization of $4.96 billion and a P/E ratio of -3.80. The business has a fifty day simple moving average of $39.43 and a two-hundred day simple moving average of $29.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 2.53. Firefly Aerospace, Inc. has a 1 year low of $16.00 and a 1 year high of $73.80.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the company earned ($5.09) EPS. On average, analysts expect that Firefly Aerospace, Inc. will post -1.97 earnings per share for the current year.

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.