Firefly Aerospace (NASDAQ:FLY) Stock Price Up 13.6% – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY) shares shot up 13.6% during mid-day trading on Monday. The company traded as high as $23.24 and last traded at $23.5760. Approximately 2,409,562 shares changed hands during trading, a decline of 50% from the average daily volume of 4,843,368 shares. The stock had previously closed at $20.76.

Trending Headlines about Firefly Aerospace

Here are the key news stories impacting Firefly Aerospace this week:

• Positive Sentiment: Quarterly results beat loss expectations and showed rapid growth. Third-quarter revenue reached $110.68 million, up 259.4% year over year, while the $0.45-per-share loss was narrower than analysts’ expected $0.60 loss. Firefly also reported a record $1.7 billion backlog. Third-quarter financial results
• Positive Sentiment: Synspective agreed to buy up to 10 Alpha launches through 2030. The Japanese satellite company plans to use the missions to deploy as many as 20 radar satellites, adding potential launch demand and customer visibility. Synspective launch agreement
• Positive Sentiment: NASA selected Firefly as a vendor for its lunar-payload services program. The selection may create opportunities for future lunar delivery work, though the article does not specify guaranteed revenue. NASA vendor selection
• Neutral Sentiment: The Synspective agreement is for “up to” 10 launches; Synspective had also signed a deal with Rocket Lab 41 days earlier, so the announcement does not establish that all potential missions are firm or exclusive to Firefly. Synspective and Rocket Lab coverage
• Negative Sentiment: Firefly remains deeply unprofitable. Despite beating estimates, it posted a $0.45-per-share loss, and its reported net margin was negative 126.64%, leaving execution and cash generation important investor concerns. Third-quarter loss coverage

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FLY shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Firefly Aerospace in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Firefly Aerospace in a research report on Wednesday, August 12th. Wall Street Zen raised Firefly Aerospace from a “sell” rating to a “hold” rating in a report on Saturday. Barclays assumed coverage on Firefly Aerospace in a report on Friday, October 9th. They issued an “equal weight” rating and a $34.00 price target on the stock. Finally, Wells Fargo & Company started coverage on shares of Firefly Aerospace in a research report on Monday, July 27th. They set an “equal weight” rating and a $25.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Firefly Aerospace Price Performance

The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -8.06 and a beta of 0.84. The stock’s 50 day moving average price is $20.43 and its two-hundred day moving average price is $26.77. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.15. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The firm had revenue of $110.68 million for the quarter. During the same period in the previous year, the business posted ($0.33) EPS. Firefly Aerospace’s revenue was up 259.4% compared to the same quarter last year. Analysts anticipate that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Trading of Firefly Aerospace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV bought a new stake in Firefly Aerospace in the 1st quarter valued at $38,000. Integrated Wealth Concepts LLC bought a new position in shares of Firefly Aerospace during the 2nd quarter valued at about $56,000. Sterling Capital Management LLC increased its position in shares of Firefly Aerospace by 848.9% during the 3rd quarter. Sterling Capital Management LLC now owns 2,657 shares of the company’s stock worth $62,000 after purchasing an additional 2,377 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Firefly Aerospace by 398.0% during the 1st quarter. Parallel Advisors LLC now owns 2,953 shares of the company’s stock worth $84,000 after purchasing an additional 2,360 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new position in Firefly Aerospace in the 2nd quarter valued at about $103,000.

About Firefly Aerospace

Firefly Aerospace is a space and defense technology company founded in 2017 and headquartered in Cedar Park, Texas. It develops launch vehicles and spacecraft and provides launch, lunar, and in-space transportation services for government and commercial customers. Its products include the Alpha rocket, designed to carry small and medium-sized payloads to orbit, and the Blue Ghost lunar lander, which delivers payloads to the Moon. The company also develops Elytra, an orbital vehicle intended to support missions such as payload transport and in-space operations.