Analysts Set Firefly Aerospace, Inc. (NASDAQ:FLY) Target Price at $42.20

Shares of Firefly Aerospace, Inc. (NASDAQ:FLY) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $42.20.

FLY has been the topic of a number of recent analyst reports. B. Riley Financial began coverage on shares of Firefly Aerospace in a research note on Wednesday, May 6th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley upped their price objective on Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $35.00 target price on shares of Firefly Aerospace in a research report on Tuesday, May 5th. KeyCorp raised Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 7th.

Insider Activity

In related news, General Counsel David Leigh Wheeler sold 3,765 shares of the stock in a transaction that occurred on 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 sale, the general counsel owned 142,758 shares of the company’s stock, valued at approximately $6,441,240.96. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Firefly Aerospace

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

Firefly Aerospace Price Performance

FLY opened at $19.69 on Friday. The stock has a market capitalization of $3.16 billion and a price-to-earnings ratio of -2.42. Firefly Aerospace has a 12 month low of $16.00 and a 12 month high of $73.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.53 and a quick ratio of 2.53. The business has a 50-day moving average of $32.60 and a two-hundred day moving average of $30.09.

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

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.