Firefly Aerospace (NASDAQ:FLY) Shares Up 8.6% – Still a Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY) shot up 8.6% during trading on Friday . The stock traded as high as $34.01 and last traded at $32.2940. 1,965,864 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 3,506,532 shares. The stock had previously closed at $29.75.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FLY. JPMorgan Chase & Co. reduced their target price on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a research note on Monday, December 29th. KeyCorp began coverage on shares of Firefly Aerospace in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Firefly Aerospace from a “hold” rating to a “buy” rating and cut their target price for the company from $40.00 to $30.00 in a report on Thursday, November 13th. Finally, Roth Capital reiterated a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.29.

Firefly Aerospace Trading Up 11.4%

The stock has a market cap of $5.28 billion and a PE ratio of -4.56. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $22.11.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. The business had revenue of $30.78 million during the quarter, compared to analyst estimates of $28.93 million. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year.

Institutional Investors Weigh In On Firefly Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of FLY. J. Safra Sarasin Holding AG acquired a new position in Firefly Aerospace during the 4th quarter valued at $228,000. SG Americas Securities LLC bought a new position in shares of Firefly Aerospace during the 4th quarter worth about $217,000. JPMorgan Chase & Co. acquired a new position in shares of Firefly Aerospace during the third quarter valued at about $19,471,000. Hudson Bay Capital Management LP bought a new stake in shares of Firefly Aerospace in the third quarter valued at about $50,711,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Firefly Aerospace during the third quarter worth about $19,899,000.

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.