Firefly Aerospace (NASDAQ:FLY) Now Covered by Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Firefly Aerospace (NASDAQ:FLY) in a research report released on Monday, Marketbeat reports. The firm issued an equal weight rating and a $25.00 price target on the stock.

Several other research analysts also recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $52.00 price objective on shares of Firefly Aerospace in a report on Tuesday, June 2nd. Roth Capital upped their target price on shares of Firefly Aerospace from $35.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, April 17th. KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Monday, June 15th. The Goldman Sachs Group raised their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Finally, B. Riley Financial initiated coverage on shares of Firefly Aerospace in a research report on Wednesday, May 6th. They set a “buy” rating and a $60.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Firefly Aerospace has an average rating of “Moderate Buy” and an average target price of $40.64.

Firefly Aerospace Price Performance

NASDAQ:FLY opened at $19.88 on Monday. The stock has a 50 day moving average of $32.12 and a two-hundred day moving average of $30.05. Firefly Aerospace has a 12 month low of $16.00 and a 12 month high of $73.80. The firm has a market cap of $3.19 billion and a P/E ratio of -2.44. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last released its earnings results on Monday, May 4th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. The business 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%.The business’s revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the business earned ($5.09) EPS. On average, analysts expect that Firefly Aerospace will post -1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Firefly Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in shares of Firefly Aerospace during the 3rd quarter worth $53,409,000. Franklin Resources Inc. purchased a new stake in shares of Firefly Aerospace in the third quarter valued at about $7,834,000. BNP Paribas Financial Markets acquired a new stake in Firefly Aerospace during the third quarter worth about $26,000. UBS Group AG purchased a new position in Firefly Aerospace during the third quarter worth about $15,587,000. Finally, Two Sigma Investments LP purchased a new position in Firefly Aerospace during the third quarter worth about $1,128,000.

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.