Fly-E Group (NASDAQ:FLYE) Stock Price Down 52.9% – What’s Next?

Fly-E Group, Inc. (NASDAQ:FLYE)’s stock price traded down 52.9% during trading on Friday . The company traded as low as $0.50 and last traded at $0.5045. 4,047,500 shares traded hands during trading, an increase of 390% from the average session volume of 825,682 shares. The stock had previously closed at $1.07.

Analyst Upgrades and Downgrades

Several analysts have commented on FLYE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Fly-E Group in a report on Friday. Wall Street Zen raised Fly-E Group to a “sell” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Fly-E Group Trading Down 52.9%

The firm’s 50 day simple moving average is $0.72 and its 200-day simple moving average is $2.63.

Fly-E Group (NASDAQ:FLYE) last announced its earnings results on Tuesday, August 19th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $5.33 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd bought a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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.

Fly-E Group Company Profile

Fly-E Group, Inc engages in the designing, installing, and selling of smart electric motorcycles (e-motorcycles), electric bikes, electric scooters, and related accessories under the Fly E-Bike brand in the United States and Canada. It offers e-mopeds, e-motorcycles, e-tricycles, e-bikes, and e-scooters; and traditional bikes.