Fly-E Group, Inc. (NASDAQ:FLYE – Get Free Report) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 17,693 shares, a drop of 39.4% from the June 30th total of 29,178 shares. Based on an average daily trading volume, of 9,806 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.1% of the shares of the stock are short sold.
Institutional Trading of Fly-E Group
An institutional investor recently bought a new stake in Fly-E Group stock. XTX Topco Ltd acquired a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.19% of Fly-E Group at the end of the most recent quarter.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.
Fly-E Group Price Performance
NASDAQ:FLYE remained flat at $1.63 during trading hours on Friday. The company’s stock had a trading volume of 15,794 shares, compared to its average volume of 161,893. The company’s fifty day moving average is $2.00 and its 200 day moving average is $2.65. Fly-E Group has a 12-month low of $1.60 and a 12-month high of $161.80. The firm has a market capitalization of $2.66 million, a P/E ratio of -0.14 and a beta of -0.70.
Fly-E Group (NASDAQ:FLYE – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported ($2.24) EPS for the quarter. The firm had revenue of $7.18 million during the quarter.
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.
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