Firefly Aerospace (FLY) Stock Jumps 37% After $1.3B AST SpaceMobile Engine Deal

TLDR Firefly Aerospace stock closed at $20.76 Friday, up 36.8% in one session. A $1.3 billion deal with AST SpaceMobile covers 36 engines, IP licensing and engineering support. Jefferies reiterated its Buy rating and $35 price target. Firefly was onboarded to NASA’s $10 billion CLPS 2 lunar contract. Third-quarter earnings are due Tuesday, November 10. Firefly Aerospace (FLY) stock closed at $20.76 on Friday, up 36.8% in a single session. That snapped a 26.6% slide over the previous four weeks. Firefly Aerospace Inc., FLY Trading volume ran higher than usual. The spark was a deal with AST SpaceMobile worth more than $1.3 billion over three years. Firefly will supply engines, license its intellectual property and provide engineering support. The work is for AST SpaceMobile’s new heavy-lift rocket, called Blacklift.

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