Firefly Aerospace (FLY) Shares Jump 20% Amid SpaceX IPO Speculation

TLDR

• Firefly Aerospace (FLY) rose 20.53% to $28.47, ending a three-day downward trend
• The stock’s upward move was fueled by positive sentiment surrounding SpaceX’s impending IPO, which might value the firm at $1.75 trillion
• Reportedly, SpaceX has secured 21 banks for its IPO and aims to raise over $75 billion
• FLY’s most recent quarter saw revenue surge 541% year-over-year to $57.67 million, and its EPS loss of ($0.38) exceeded analyst expectations
• Wall Street analysts have a consensus “Moderate Buy” rating on FLY, with an average price target of $35.13

(SeaPRwire) –   Firefly Aerospace (FLY) closed Tuesday with a 20.53% gain, finishing at $28.47. This uptick put an end to the stock’s three-day losing streak.

Firefly Aerospace Inc., FLY

The trigger for this movement was a Reuters report indicating SpaceX has arranged 21 banks for its IPO. The offering could value SpaceX at $1.75 trillion, and the company plans to raise more than $75 billion.

If this happens, it would rank among the biggest IPOs ever. As a consequence, market sentiment across the wider space industry improved.

Approximately 1.23 million shares of FLY were traded during the day, a 69% drop from its average daily volume of around 3.97 million. Thus, the stock’s rise occurred amid lower-than-normal trading volume.

FLY reached an intraday peak of $26.07 before closing at the higher price of $28.47. Its prior closing price was $23.62.

A Quarter Worth Noting

Firefly released its most recent earnings results on March 19. The firm reported an EPS loss of ($0.38), which was $0.10 better than the consensus estimate of ($0.48).

Quarterly revenue totaled $57.67 million, marking a 541.1% increase from the same period last year. This is a significant figure, even considering the low starting point.

For the full year, revenue rose 163% to $159.8 million from $60.79 million in 2024. However, net losses expanded by 25.6% to $333.96 million.

The company continues to have a negative net margin of 186.63% and a negative return on equity of 234.80%. While it hasn’t turned profitable yet, its revenue growth trend is difficult to overlook.

Firefly’s debt-to-equity ratio is 0.24, and its quick ratio stands at 4.51. The 50-day moving average is $23.26, while the 200-day moving average is $25.31.

What Analysts Are Saying

On March 26, Cantor Fitzgerald reduced its price target for FLY from $65.00 to $35.00, but maintained an “overweight” rating.

In January, Goldman Sachs raised its price target from $29.00 to $32.00 and gave a “neutral” rating. UBS established a $33.00 target in March, and Morgan Stanley kept its “positive” rating that same month.

KeyCorp started covering FLY in December with a “sector weight” rating.

Overall, the consensus rating is “Moderate Buy” with an average price target of $35.13. The breakdown includes 1 Strong Buy, 5 Buy, 3 Hold, and 1 Sell ratings.

FLY’s market capitalization is $4.48 billion. The stock has a price-to-earnings ratio of -3.05, which indicates it’s not profitable.

Institutional interest has also been growing; BNP Paribas, CIBC Private Wealth, California State Teachers Retirement System, and Russell Investments all opened new positions in FLY during recent quarters.