Fly-E Group (NASDAQ:FLYE) Announces Earnings Results

Fly-E Group (NASDAQ:FLYE) released its quarterly earnings data on Tuesday. The company reported ($2.41) earnings per share for the quarter, FiscalAI reports. The business had revenue of $2.75 million during the quarter.

Fly-E Group Price Performance

FLYE stock traded up $0.84 during trading on Tuesday, hitting $2.20. 80,389,062 shares of the stock traded hands, compared to its average volume of 599,998. The firm’s 50 day moving average is $1.86 and its two-hundred day moving average is $1.99. Fly-E Group has a 1 year low of $1.36 and a 1 year high of $22.00. The stock has a market cap of $3.59 million, a price-to-earnings ratio of -0.19 and a beta of -0.61.

Institutional Investors Weigh In On Fly-E Group

A hedge fund recently bought a new position in Fly-E Group stock. XTX Topco Ltd purchased a new position in Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fly-E Group currently has an average 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.