flyExclusive (NYSE:FLYX) Shares Down 0.5% – Time to Sell?

flyExclusive, Inc. (NYSE:FLYX)’s stock price dropped 0.5% during trading on Thursday . The stock traded as low as $2.14 and last traded at $2.19. Approximately 159,954 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 4,198,586 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLYX. Lucid Cap Mkts raised shares of flyExclusive to a “strong-buy” rating in a report on Monday, January 26th. UBS Group set a $7.00 price target on flyExclusive in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, flyExclusive has a consensus rating of “Strong Buy” and a consensus price target of $7.00.

flyExclusive Stock Performance

The stock’s 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.69. The firm has a market cap of $171.87 million, a price-to-earnings ratio of -2.07 and a beta of 0.20.

Hedge Funds Weigh In On flyExclusive

A number of institutional investors have recently added to or reduced their stakes in FLYX. Kera Capital Partners Inc. acquired a new position in flyExclusive in the third quarter valued at approximately $173,000. Citadel Advisors LLC purchased a new stake in flyExclusive in the third quarter valued at $68,000. MBL Wealth LLC lifted its stake in shares of flyExclusive by 46.9% in the 3rd quarter. MBL Wealth LLC now owns 28,200 shares of the company’s stock valued at $139,000 after purchasing an additional 9,000 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of flyExclusive during the 3rd quarter worth $32,000. Finally, JPMorgan Chase & Co. boosted its stake in flyExclusive by 56,636.4% during the third quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after buying an additional 6,230 shares during the period. Hedge funds and other 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.