New York, June 11, 2026, 06:45 PM ET
• Firefly Aerospace traded at $39.37 late in the session, up 17.8% from its last close.
• Shares rallied as SpaceX set a $75 billion IPO price, putting the spotlight back on space names in the market.
• Firefly is still under its $48 IPO price, so talk of dilution and valuation lingers.
Firefly Aerospace Inc. stock jumped Thursday, with buying picking up in space stocks before SpaceX’s expected Nasdaq listing. Firefly, trading as FLY on the Nasdaq, last went for $39.37, up $5.96 from Wednesday’s close. Volume topped 10 million shares, with the stock moving between $34.37 and $41.88 so far today.
Stocks surged after a broad risk-on move in U.S. equities, with the Nasdaq last quoted up 2.54% and the S&P 500 up 1.75% late Thursday. Market data from Investing.com listed Firefly’s last close at $33.42, with a 52-week range from $16.00 to $73.80. The newly public space company’s trading has been volatile since listing.
SpaceX’s IPO pricing set things in motion. Reuters said Elon Musk’s SpaceX priced its IPO at $135 a share, pulling in $75 billion and giving the company a $1.77 trillion valuation. Trading is slated to start Friday on Nasdaq. “The real test will be how the market digests the IPO over the next several weeks, not just one day,” Adam Sarhan, CEO at 50 Park Investments, told Reuters. Reuters
Space stocks moved up after SpaceX set its IPO price, with Firefly among the names getting a bump from the SpaceX effect. MarketWatch said after-hours trading saw gains for Virgin Galactic, Rocket Lab, AST SpaceMobile, Intuitive Machines, Voyager Technologies, Firefly Aerospace, and Redwire.
Firefly shares bounced back less than two weeks after the company set its follow-on public offering at $48 a share. It sold 4 million shares, with selling stockholders putting another 8 million shares on the market. Underwriters got a 30-day option for 1.8 million more shares. Firefly said the net proceeds will go to fund general corporate needs, core-business expansion, and new program awards.
Firefly has stayed in the news with updates on both defense and lunar business. On June 2, the company announced SciTec, its unit, landed a U.S. Department of the Air Force selection to deliver a data-fusion system for the Cloud-Based Command and Control program. The $5.5 million option is linked to a 2024 award. “Supporting the CBC2 mission is a responsibility of the highest order,” SciTec All Domain Solutions director Stephen Purcell said. Firefly Aerospace
Firefly posted record first-quarter revenue at $80.9 million, up 40% from the previous quarter, as investors looked at the recent stock rally. CEO Jason Kim called the first quarter of 2026 defined by momentum. The company pointed to achievements on its Blue Ghost program, work on Alpha Flight 7, and national-security contracts.
Analysts are split, but most are positive on Firefly. The average 12-month price target sits at $48, according to Investing.com. Price targets range from a high of $65 to a low of $35. Out of the ratings tracked, there are six Buys, three Holds, and no Sells.
