Firefly Aerospace (NASDAQ:FLY) Shares Down 5.2% - Here's Why

Key Points

• Firefly Aerospace's stock price fell by 5.2% during mid-day trading, reaching a low of $27.78.
• Multiple analysts have upgraded the company's stock ratings, with a consensus target price of $53.00 and a rating of "Moderate Buy."
• Research firms like Cantor Fitzgerald have set a target price as high as $65.00 for Firefly Aerospace shares.

Firefly Aerospace, Inc. (NASDAQ:FLY - Get Free Report)'s stock price fell 5.2% during mid-day trading on Wednesday . The company traded as low as $27.78 and last traded at $27.81. 952,331 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,535,128 shares. The stock had previously closed at $29.32.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group upgraded Firefly Aerospace to a "strong-buy" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald initiated coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued an "overweight" rating and a $65.00 price target for the company. The Goldman Sachs Group assumed coverage on Firefly Aerospace in a report on Tuesday, September 2nd. They issued a "neutral" rating and a $54.00 target price for the company. Zacks Research upgraded Firefly Aerospace to a "hold" rating in a report on Thursday, September 4th. Finally, Roth Capital set a $40.00 price objective on shares of Firefly Aerospace in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Firefly Aerospace Stock Down 8.0%

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.

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