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

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 95,675 shares, an increase of 1,536.3% from the May 31st total of 5,847 shares. Based on an average daily trading volume, of 489,123 shares, the days-to-cover ratio is currently 0.2 days. Approximately 6.2% of the company’s stock are sold short.

Fly-E Group Stock Performance

Shares of FLYE stock traded up $0.05 on Friday, reaching $2.08. 6,785 shares of the stock were exchanged, compared to its average volume of 280,313. The business’s 50 day moving average price is $1.99 and its 200 day moving average price is $3.53. Fly-E Group has a twelve month low of $1.62 and a twelve month high of $161.80.

Fly-E Group (NASDAQ:FLYE) last posted its earnings results on Tuesday, April 21st. The company reported ($1.18) EPS for the quarter. The company had revenue of $2.65 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Fly-E Group

An institutional investor recently bought a new stake in Fly-E Group stock. XTX Topco Ltd purchased a new stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.19% of Fly-E Group as of its most recent SEC filing.

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.