Firefly Aerospace Inc. (NASDAQ:FLY) stock edged higher Monday morning, extending Friday's 36.8% rally as investors weighed a trio of developments: the company's selection for NASA's $10 billion lunar program, a $1.3 billion rocket engine deal with AST SpaceMobile Inc. (NASDAQ:ASTS), and its upcoming quarterly earnings.

The space technology company is set to report third-quarter results Tuesday, Nov. 10, after the market closes, putting its growth outlook and ability to capitalize on major contracts in focus.

Firefly Joins NASA's $10 Billion Lunar Program

NASA's CLPS 2 indefinite delivery/indefinite quantity contract includes a 10-year ordering period and lets Firefly compete for future task orders supporting lunar science, exploration, and infrastructure.

The program is designed to increase commercial deliveries to the Moon, emphasizing lander reliability, larger cargo capacity, and the infrastructure needed to support a permanent lunar presence.

Firefly pointed to Blue Ghost Mission 1, which successfully landed on the Moon and completed all mission objectives in March 2025.

"Blue Ghost Mission 1 proved Firefly can deliver on the Moon, and now CLPS 2 gives us the opportunity to do it again and again at greater scale," CEO Jason Kim said.

Firefly has also secured four additional missions under CLPS 1 and a contract to deliver NASA's MoonFall mission.

The company is ramping up production of Blue Ghost landers and Elytra orbiters in an expanded cleanroom that can accommodate up to 12 spacecraft. It is also developing a larger lander architecture for heavier cargo, terrain vehicles, infrastructure and power systems.

$1.3 Billion AST SpaceMobile Deal Expands Engine Business

The NASA update follows Firefly's more than $1.3 billion, three-year agreement with AST SpaceMobile Inc. (NASDAQ:ASTS).

Under the agreement, Firefly will supply 27 Miranda engines and nine vacuum-variant Vira engines for AST SpaceMobile's first three heavy-lift rockets.

Firefly will also license engine manufacturing technology and provide engineering support.

The company said the agreement's proceeds will support hiring, long-lead material purchases, equipment procurement, and additional test bays at its Rocket Ranch in Briggs, Texas.

Earnings Ahead

Firefly is scheduled to report third-quarter results on Nov. 10 after market close.

Analysts expect a loss of 51 cents per share, up from 33 cents a year earlier. Revenue is estimated at $103.8 million, versus $30.78 million in the prior-year quarter.

The stock carries a Buy consensus rating with an average price forecast of $36.67.

Recent analyst actions include B. Riley Securities maintaining a Buy rating while lowering its price forecast from $50 to $40 on Nov. 4, KeyBanc maintaining an Overweight rating while cutting its forecast from $50 to $35 on Nov. 2, and Barclays initiating coverage at Equal-Weight with a $34 forecast on Oct. 9.

FLY Technical Setup

Firefly Aerospace remains in a bearish longer-term setup, trading 7.6% below its 100-day SMA and 23.5% below its 200-day SMA.

The stock's RSI of 56.09 sits in neutral territory, while MACD remains above its signal line, pointing to improving near-term momentum despite the weaker broader trend.

Key support sits at $20.00, with resistance near $20.50. A break above resistance could strengthen the rebound, while a move below support may reinforce downside pressure.

FLY is up 7.90% over the past 12 months but currently sits at just 12.8% of its 52-week range, keeping the stock near the lower end of its yearly trading band.

FLY Price Action: Firefly Aerospace shares were up 0.80% at $20.93 during premarket trading on Monday, according to market data.