WCM Investment Management LLC Takes $19.39 Million Position in Firefly Aerospace, Inc. $FLY

WCM Investment Management LLC bought a new position in Firefly Aerospace, Inc. (NASDAQ:FLY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 661,197 shares of the company’s stock, valued at approximately $19,386,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Firefly Aerospace during the 3rd quarter worth $293,000. Canal Insurance CO purchased a new stake in shares of Firefly Aerospace during the third quarter worth about $293,000. LBP AM SA acquired a new position in shares of Firefly Aerospace in the third quarter worth about $1,795,000. Teacher Retirement System of Texas acquired a new position in shares of Firefly Aerospace in the third quarter worth about $3,836,000. Finally, Phoenix Financial Ltd. acquired a new stake in Firefly Aerospace during the 3rd quarter valued at approximately $14,468,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. KeyCorp assumed coverage on shares of Firefly Aerospace in a report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Roth Mkm reissued a “buy” rating on shares of Firefly Aerospace in a report on Monday, November 24th. JPMorgan Chase & Co. cut 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, Morgan Stanley set a $33.00 price objective on Firefly Aerospace in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.71.

Firefly Aerospace Stock Performance

Firefly Aerospace stock opened at $22.86 on Tuesday. Firefly Aerospace, Inc. has a 1 year low of $16.00 and a 1 year high of $73.80. The business has a 50-day simple moving average of $24.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.20 and a current ratio of 6.20. The company has a market cap of $3.64 billion and a P/E ratio of -3.14.

Firefly Aerospace (NASDAQ:FLY) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $30.78 million during the quarter, compared to the consensus estimate of $28.93 million. Firefly Aerospace’s revenue for the quarter was up 37.5% on a year-over-year basis.

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.