Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Update

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 35,324 shares, a decrease of 46.6% from the February 12th total of 66,151 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily volume of 22,959 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 22,959 shares, the short-interest ratio is currently 1.5 days. Approximately 2.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLYE shares. Wall Street Zen raised Fly-E Group from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Fly-E Group Trading Up 0.3%

Shares of FLYE traded up $0.01 during trading hours on Thursday, hitting $1.96. 6,038 shares of the stock were exchanged, compared to its average volume of 352,751. Fly-E Group has a fifty-two week low of $1.80 and a fifty-two week high of $161.80. The business has a 50-day moving average of $4.61 and a 200-day moving average of $8.57.

Institutional Trading of Fly-E Group

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd acquired a new stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.19% of Fly-E Group at the end of the most recent reporting period.

About Fly-E Group

FlyE Group, Inc, incorporated as a Cayman Islands exempted company, is a special purpose acquisition company (SPAC) formed to identify, acquire, and combine with one or more businesses. As a blank?check entity, its primary operations involve raising capital through an initial public offering and seeking a merger, capital stock exchange, asset acquisition, or similar business combination with a target company.

In September 2021, FlyE Group completed its IPO and began trading on the Nasdaq Stock Market under the ticker symbol FLYE.