Firefly Aerospace (NASDAQ:FLY) Hits New 1-Year Low – Here’s Why

Firefly Aerospace, Inc. (NASDAQ:FLY) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $34.53 and last traded at $36.96, with a volume of 1591471 shares changing hands. The stock had previously closed at $35.98.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald started coverage on shares of Firefly Aerospace in a research report on Tuesday, September 2nd. They issued an “overweight” rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Firefly Aerospace in a report on Tuesday, September 2nd. They issued a “hold” rating and a $45.00 price target for the company. The Goldman Sachs Group started coverage on shares of Firefly Aerospace in a research note on Tuesday, September 2nd. They set a “neutral” rating and a $54.00 price objective for the company. Morgan Stanley initiated coverage on Firefly Aerospace in a research report on Tuesday, September 2nd. They issued an “equal weight” rating and a $52.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Firefly Aerospace in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $55.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Firefly Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Firefly Aerospace Trading Down 9.0%

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.