Firefly Aerospace, Inc.’s Lock-Up Period To End on February 3rd (NASDAQ:FLY)

Firefly Aerospace’s (NASDAQ:FLY) lock-up period will expire on Tuesday, February 3rd. Firefly Aerospace had issued 19,296,000 shares in its public offering on August 7th. The total size of the offering was $868,320,000 based on an initial share price of $45.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

FLY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Firefly Aerospace from a “hold” rating to a “buy” rating and dropped their price target for the stock from $40.00 to $30.00 in a research note on Thursday, November 13th. KeyCorp assumed coverage on shares of Firefly Aerospace in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Roth Mkm restated a “buy” rating on shares of Firefly Aerospace in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Firefly Aerospace in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Firefly Aerospace from $55.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.71.

Firefly Aerospace Trading Down 13.5%

FLY opened at $25.20 on Tuesday. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.03. Firefly Aerospace has a 12-month low of $16.00 and a 12-month high of $73.80. The stock’s 50 day simple moving average is $23.54. The stock has a market cap of $4.01 billion and a price-to-earnings ratio of -3.46.

Firefly Aerospace (NASDAQ:FLY) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.33) 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 analysts’ expectations of $28.93 million. The firm’s quarterly revenue was up 37.5% on a year-over-year basis.

Institutional Trading of Firefly Aerospace

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

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.