Firefly Aerospace Inc. (NASDAQ:FLY) is one of the 10 Stocks With Effortless 18-42% Gains.
Firefly Aerospace grew its share price by 36.80 percent on Friday to end at $20.76 apiece, after bagging a $1.3 billion deal with AST SpaceMobile for the delivery of 36 rocket engines, among others.
In a statement, Firefly Aerospace Inc. (NASDAQ:FLY) said that it signed an agreement with AST SpaceMobile for the delivery of 27 Miranda engines and nine of its vacuum-variant Vira engines for AST SpaceMobile's first three rockets, while providing the license for the latter to manufacture the engines.
Photo by Mizuno K on pexels
"It's a true win-win for both companies: AST SpaceMobile gets control of its own launch schedule, and Firefly gets added funds to rapidly expand our rocket production and reinforce the supply of launch vehicles to address record demand from the industry," Firefly Aerospace Inc. (NASDAQ:FLY) CEO Jason Kim said.
Firefly's Miranda engine has performed over 175 hot-fire tests for more than 4,200 seconds, including a flight-like test at 110 percent performance of the 230,000 lbf thrust engine that successfully performed 20 seconds beyond the nominal flight duration of 206 seconds.
Both Miranda and Vira utilize flight-proven technology scaled from the company's Reaver and Lightning rocket engines, which were designed, built, and tested in-house with Firefly's patented tap-off cycle technology and vertically integrated approach.
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