Fly-E Group (NASDAQ:FLYE) Posts Quarterly Earnings Results

Fly-E Group (NASDAQ:FLYE) issued its earnings results on Tuesday. The company reported ($1.18) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $2.65 million for the quarter.

Fly-E Group Price Performance

Shares of Fly-E Group stock opened at $2.11 on Wednesday. The firm has a fifty day moving average price of $2.15 and a 200 day moving average price of $5.88. Fly-E Group has a 1 year low of $1.68 and a 1 year high of $161.80.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

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.