Firefly Aerospace (NASDAQ:FLY) Trading 13.5% Higher – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY)’s stock price was up 13.5% during mid-day trading on Wednesday . The company traded as high as $28.28 and last traded at $26.9270. Approximately 2,851,570 shares changed hands during trading, a decline of 25% from the average daily volume of 3,784,672 shares. The stock had previously closed at $23.73.

Analyst Upgrades and Downgrades

Several research analysts have commented on FLY shares. UBS Group set a $33.00 target price on Firefly Aerospace in a research note on Thursday, March 12th. KeyCorp started coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a report on Thursday, March 12th. JPMorgan Chase & Co. lowered their target price on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group raised their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.88.

Firefly Aerospace Trading Up 15.6%

The stock has a market cap of $4.39 billion and a PE ratio of -2.98. The company has a current ratio of 4.51, a quick ratio of 6.20 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $23.76 and a two-hundred day simple moving average of $25.82.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.10. The company had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative return on equity of 234.80% and a negative net margin of 186.63%.Firefly Aerospace’s revenue for the quarter was up 541.1% compared to the same quarter last year.

Hedge Funds Weigh In On Firefly Aerospace

Institutional investors have recently made changes to their positions in the stock. AE Industrial Partners LP bought a new stake in shares of Firefly Aerospace during the 3rd quarter worth $1,063,863,000. Vanguard Group Inc. bought a new position in Firefly Aerospace in the third quarter valued at $53,409,000. Hudson Bay Capital Management LP purchased a new stake in Firefly Aerospace during the third quarter valued at about $50,711,000. UBS Group AG lifted its stake in Firefly Aerospace by 233.6% during the fourth quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock worth $39,676,000 after purchasing an additional 1,241,987 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Firefly Aerospace in the 3rd quarter worth about $35,337,000.

Firefly Aerospace Company 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.