Firefly Aerospace Target of Unusually Large Options Trading (NASDAQ:FLY)

Firefly Aerospace, Inc. (NASDAQ:FLY) was the target of some unusual options trading on Thursday. Traders purchased 7,218 call options on the stock. This represents an increase of approximately 70% compared to the average volume of 4,257 call options.

Firefly Aerospace Stock Performance

FLY stock opened at $21.42 on Friday. The business’s 50-day simple moving average is $31.45. Firefly Aerospace has a 1-year low of $18.21 and a 1-year high of $73.80.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $30.78 million for 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. Firefly Aerospace has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Firefly Aerospace

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

Analysts Set New Price Targets

A number of research analysts have issued reports on FLY shares. Weiss Ratings started coverage on shares of Firefly Aerospace in a research report on Friday, October 31st. They set a “sell (d-)” rating on the stock. Morgan Stanley assumed coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued an “equal weight” rating and a $52.00 price objective on the stock. Jefferies Financial Group raised shares of Firefly Aerospace to a “strong-buy” rating in a report on Tuesday, September 2nd. Roth Capital cut their price target on Firefly Aerospace from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. began coverage on Firefly Aerospace in a research note on Tuesday, September 2nd. They set an “overweight” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.43.

About Firefly Aerospace

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.