Firefly Aerospace (NASDAQ:FLY) Shares Gap Up – Should You Buy?

Firefly Aerospace, Inc. (NASDAQ:FLY) gapped up prior to trading on Wednesday. The stock had previously closed at $22.86, but opened at $23.90. Firefly Aerospace shares last traded at $24.3820, with a volume of 484,645 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLY. KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a report on Monday, June 15th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price target on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Firefly Aerospace in a research report on Tuesday, September 22nd. Wells Fargo & Company initiated 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. Finally, Jefferies Financial Group set a $35.00 price objective on shares of Firefly Aerospace in a research note on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.82.

Firefly Aerospace Stock Up 5.3%

The firm has a 50 day moving average price of $22.56 and a 200-day moving average price of $29.54. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.02. The firm has a market cap of $4.03 billion and a PE ratio of -8.19.

Firefly Aerospace (NASDAQ:FLY) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.08. Firefly Aerospace had a negative net margin of 126.64% and a negative return on equity of 22.28%. The company had revenue of $117.68 million during the quarter. During the same quarter last year, the firm earned ($5.78) EPS. The company’s revenue was up 659.2% on a year-over-year basis. Research analysts forecast that Firefly Aerospace, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Firefly Aerospace during the second quarter worth approximately $173,573,000. Van ECK Associates Corp boosted its stake in Firefly Aerospace by 43.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,048,335 shares of the company’s stock worth $89,621,000 after purchasing an additional 927,804 shares during the period. Tema ETFs LLC grew its position in Firefly Aerospace by 133,440.2% during the 2nd quarter. Tema ETFs LLC now owns 2,280,867 shares of the company’s stock worth $67,057,000 after purchasing an additional 2,279,159 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Firefly Aerospace in the second quarter valued at about $63,714,000. Finally, Temasek Holdings Private Ltd boosted its stake in shares of Firefly Aerospace by 151.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock worth $23,927,000 after buying an additional 643,886 shares during the period.

Firefly Aerospace Company Profile

Firefly Aerospace, Inc is a space transportation company that develops launch vehicles, lunar landers and spacecraft designed to support commercial, civil and national-security missions. The company provides end-to-end space services, including payload delivery, lunar surface operations and in-space transportation.

Its principal products include the Alpha rocket, a small-to-medium lift launch vehicle designed to place satellites and other payloads into orbit; the Blue Ghost lunar lander, developed to deliver scientific and commercial payloads to the Moon; and Elytra, an orbital vehicle intended to provide in-space transportation and mission services.