Firefly Aerospace, Inc. $FLY Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Firefly Aerospace, Inc. (NASDAQ:FLY) by 1,301.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 329,300 shares of the company’s stock after purchasing an additional 305,800 shares during the period. Renaissance Technologies LLC’s holdings in Firefly Aerospace were worth $9,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLY. BNP Paribas Financial Markets bought a new position in Firefly Aerospace during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of Firefly Aerospace in the 3rd quarter valued at approximately $26,000. California State Teachers Retirement System acquired a new stake in shares of Firefly Aerospace during the 4th quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in Firefly Aerospace during the fourth quarter worth $38,000. Finally, KBC Group NV bought a new position in Firefly Aerospace during the first quarter worth $38,000.

Firefly Aerospace Stock Performance

NASDAQ:FLY opened at $20.33 on Monday. The firm has a market capitalization of $3.26 billion and a P/E ratio of -2.49. The business has a 50 day simple moving average of $30.10 and a 200 day simple moving average of $29.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 2.53. Firefly Aerospace, Inc. has a 12-month low of $16.00 and a 12-month high of $73.80.

Firefly Aerospace (NASDAQ:FLY) last issued its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $80.88 million for the quarter. Firefly Aerospace had a negative return on equity of 40.96% and a negative net margin of 181.16%.Firefly Aerospace’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the business earned ($5.09) earnings per share. Equities research analysts predict that Firefly Aerospace, Inc. will post -1.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FLY shares. Roth Capital boosted their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Morgan Stanley raised their price target on shares of Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $35.00 price target on shares of Firefly Aerospace in a report on Tuesday, May 5th. KeyCorp raised shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.64.

Insider Activity

In other news, General Counsel David Leigh Wheeler sold 3,765 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $45.12, for a total transaction of $169,876.80. Following the completion of the transaction, the general counsel owned 142,758 shares in the company, valued at approximately $6,441,240.96. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.50% of the company’s stock.

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.