Fly-E Group, Inc. (NASDAQ:FLYE – Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 2,562 shares, a decline of 54.9% from the August 15th total of 5,675 shares. Based on an average daily volume of 6,315 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are sold short.
Institutional Trading of Fly-E Group
An institutional investor recently bought a new position in Fly-E Group stock. Citadel Advisors LLC purchased a new position in Fly-E Group, Inc. (NASDAQ:FLYE – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,702 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned approximately 0.90% of Fly-E Group at the end of the most recent quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
Fly-E Group Trading Down 2.9%
Shares of FLYE stock traded down $0.05 on Wednesday, reaching $1.66. The company’s stock had a trading volume of 44,607 shares, compared to its average volume of 618,064. The stock’s fifty day simple moving average is $1.81 and its 200-day simple moving average is $1.95. Fly-E Group has a 1 year low of $1.36 and a 1 year high of $22.00. The company has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.20 and a beta of -0.65.
Fly-E Group (NASDAQ:FLYE – Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The company reported ($2.41) earnings per share (EPS) for the quarter. The company had revenue of $2.75 million for 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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