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

Fly-E Group, Inc. (NASDAQ:FLYE) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 38,170 shares, a decline of 81.4% from the December 31st total of 205,658 shares. Based on an average daily trading volume, of 39,643 shares, the short-interest ratio is presently 1.0 days. Approximately 2.8% of the company’s shares are short sold. Approximately 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 39,643 shares, the short-interest ratio is presently 1.0 days.

Fly-E Group Stock Down 1.8%

Fly-E Group stock traded down $0.11 during midday trading on Thursday, hitting $5.90. The stock had a trading volume of 6,626 shares, compared to its average volume of 29,101. The business has a fifty day moving average price of $6.98 and a 200 day moving average price of $28.52. Fly-E Group has a 12 month low of $3.83 and a 12 month high of $161.80.

Fly-E Group (NASDAQ:FLYE) last issued its earnings results on Thursday, December 18th. The company reported ($2.18) EPS for the quarter. The firm had revenue of $3.91 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd purchased a new position in Fly-E Group, Inc. (NASDAQ:FLYE) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 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 quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLYE shares. Wall Street Zen upgraded shares of Fly-E Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed 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, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Fly-E Group Company Profile

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.