Firefly (FLY) Soars 22.8% as Analyst Issues Optimistic Rating

We recently published 10 Firms in the Limelight. Firefly Aerospace Inc. (NASDAQ:FLY) is one of the best performers on Friday.

Firefly Aerospace jumped by 22.82 percent to close at $24.65 apiece as investors took heart from an analyst’s initial coverage for the stock.

In a market report, Keybanc issued a “sector weight” rating on shares of Firefly Aerospace Inc. (NASDAQ:FLY) on optimism for the company’s spacecraft operations, albeit achieving profitability could take some time.

Keybanc also noted that the company remains in the process of establishing a consistent launch track record, but noted that it was already making strides with the medium-lift rocket.

In other news, Firefly Aerospace Inc. (NASDAQ:FLY) announced on the same day that certain shareholders are planning to dispose of more than 11 million of their shares in the company at a price of $50 for a total of $555.6 million.

Firefly Aerospace Inc. (NASDAQ:FLY) said that it would not receive any proceeds from the sale, which will entirely go to the selling shareholders.

The sale followed the company’s successful acquisition in November this year of SciTec Innovations, LLC, a US space and defense technology company specializing in advanced national security technologies, missile warning systems, and remote sensing, among others.

While we acknowledge the potential of FLY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.