Firefly Aerospace Sees Unusually Large Options Volume (NASDAQ:FLY)

Firefly Aerospace, Inc. (NASDAQ:FLY) was the recipient of unusually large options trading activity on Wednesday. Traders bought 28,970 call options on the stock. This is an increase of 171% compared to the typical daily volume of 10,685 call options.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLY. Morgan Stanley reaffirmed a “positive” rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. JPMorgan Chase & Co. dropped their price target on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. UBS Group set a $33.00 price objective on shares of Firefly Aerospace in a research note on Thursday, March 12th. The Goldman Sachs Group raised their target price on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Firefly Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $38.88.

Hedge Funds Weigh In On Firefly Aerospace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Firefly Aerospace in the third quarter valued at $26,000. CIBC Private Wealth Group LLC bought a new position in shares of Firefly Aerospace during the third quarter valued at $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace in the 4th quarter valued at $30,000. NBC Securities Inc. bought a new stake in shares of Firefly Aerospace in the 4th quarter worth about $38,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Firefly Aerospace during the 4th quarter worth about $38,000.

Firefly Aerospace Stock Performance

NASDAQ FLY traded up $3.93 during trading on Wednesday, hitting $27.66. The company’s stock had a trading volume of 6,750,843 shares, compared to its average volume of 3,866,741. Firefly Aerospace has a 52 week low of $16.00 and a 52 week high of $73.80. The firm has a market cap of $4.42 billion and a P/E ratio of -3.01. The firm has a 50 day moving average price of $23.76 and a 200 day moving average price of $25.82. The company has a quick ratio of 6.20, a current ratio of 4.51 and a debt-to-equity ratio of 0.24.

Firefly Aerospace (NASDAQ:FLY) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The firm had revenue of $57.67 million during the quarter. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. Firefly Aerospace’s revenue was up 541.1% on a year-over-year basis.

About Firefly Aerospace

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.