Firefly Aerospace (NASDAQ:FLY) Reaches New 12-Month Low - Time to Sell?

Key Points

• Firefly Aerospace's stock (NASDAQ: FLY) hit a new 52-week low of $41.37, significantly down from its previous close of $49.52, with a volume of over 3.5 million shares traded.
• Analysts have shown mixed sentiments, with Jefferies upgrading the stock to a "strong-buy" while Wall Street Zen downgraded it to a "sell," resulting in an average rating of "Moderate Buy" from multiple firms.
• Market analysts set price targets for Firefly Aerospace ranging from $52.00 to $65.00, reflecting varying confidence in the company's future performance.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $41.37 and last traded at $41.94, with a volume of 3532903 shares changing hands. The stock had previously closed at $49.52.

Analyst Ratings Changes

A number of research analysts have recently commented on FLY shares. Jefferies Financial Group upgraded shares of Firefly Aerospace to a "strong-buy" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald started coverage on shares of Firefly Aerospace in a research report on Tuesday, September 2nd. They set an "overweight" rating and a $65.00 price target for the company. Wall Street Zen lowered shares of Firefly Aerospace from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. initiated coverage on shares of Firefly Aerospace in a research report on Tuesday, September 2nd. They set an "overweight" rating and a $55.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Firefly Aerospace in a research report on Tuesday, September 2nd. They issued an "equal weight" rating and a $52.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.86.

Firefly Aerospace Stock Performance

About Firefly Aerospace

Firefly Aerospace is a market leading space and defense technology company with an established track record of success providing comprehensive mission solutions to national security, government, and commercial customers. Our mission is to enable responsive, regular, and reliable launch, transit, and operations in space for our customers across the globe.

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