Fly-E Group, Inc. (NASDAQ:FLYE – Get Free Report) was the recipient 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. Currently, 6.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 489,123 shares, the short-interest ratio is currently 0.2 days.
Institutional Trading of Fly-E Group
A hedge fund recently bought a new position in Fly-E Group stock. Renaissance Technologies LLC purchased a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,600 shares of the company’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned about 0.77% of Fly-E Group as of its most recent SEC filing.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Fly-E Group presently has an average rating of “Sell”.
Fly-E Group Stock Down 10.6%
Shares of FLYE traded down $0.24 during mid-day trading on Thursday, hitting $2.03. 20,969 shares of the company’s stock were exchanged, compared to its average volume of 279,363. The stock’s 50-day moving average is $1.99 and its 200-day moving average is $3.54. Fly-E Group has a fifty-two week low of $1.62 and a fifty-two week high of $161.80.
Fly-E Group (NASDAQ:FLYE – Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported ($1.18) earnings per share (EPS) for the quarter. The company had revenue of $2.65 million during the quarter.
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.
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