Firefly Aerospace (NASDAQ:FLY) Sets New 12-Month Low - Should You Sell?

Key Points

• Firefly Aerospace reached a new 52-week low, trading at $43.95, down from a previous close of $45.37.
• Multiple analysts have initiated coverage on Firefly, with target prices ranging from $45.00 to $60.00, leading to a consensus rating of "Moderate Buy" with an average target price of $55.17.
• The stock experienced a trading volume of 188,630 shares, reflecting investor interest amidst its recent price decline.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $43.95 and last traded at $44.50, with a volume of 188630 shares traded. The stock had previously closed at $45.37.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FLY. Deutsche Bank Aktiengesellschaft initiated coverage on Firefly Aerospace in a research note on Tuesday. They issued a "hold" rating and a $45.00 target price on the stock. Wall Street Zen downgraded Firefly Aerospace from a "hold" rating to a "sell" rating in a research report on Friday. Jefferies Financial Group upgraded Firefly Aerospace to a "strong-buy" rating in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Firefly Aerospace in a research note on Tuesday. They set an "overweight" rating and a $55.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Firefly Aerospace in a research report on Tuesday. They issued an "equal weight" rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.17.

Firefly Aerospace Price Performance

Firefly Aerospace Company Profile

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.