flyExclusive (NYSE:FLYX) Rating Increased to Strong-Buy at Lucid Cap Mkts

Lucid Cap Mkts upgraded shares of flyExclusive (NYSE:FLYX) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, UBS Group set a $7.00 target price on flyExclusive in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, flyExclusive presently has an average rating of “Strong Buy” and a consensus target price of $7.00.

flyExclusive Stock Up 2.1%

Shares of FLYX stock traded up $0.06 during trading hours on Monday, hitting $3.09. 57,830 shares of the company’s stock traded hands, compared to its average volume of 7,477,411. The stock has a market cap of $249.65 million, a PE ratio of -2.99 and a beta of 0.21. The stock’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $3.67. flyExclusive has a 12 month low of $1.90 and a 12 month high of $8.88.

Institutional Investors Weigh In On flyExclusive

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in flyExclusive by 56,636.4% in the third quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after purchasing an additional 6,230 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of flyExclusive in the 3rd quarter valued at $32,000. MBL Wealth LLC acquired a new position in shares of flyExclusive during the 2nd quarter valued at $37,000. Axxcess Wealth Management LLC lifted its position in shares of flyExclusive by 126.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 34,000 shares of the company’s stock valued at $66,000 after acquiring an additional 18,960 shares during the period. Finally, Citadel Advisors LLC bought a new position in flyExclusive during the third quarter worth $68,000. Institutional investors own 12.99% of the company’s stock.

flyExclusive Company Profile

flyExclusive (NYSE:FLYX) is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.