flyExclusive (NYSE:FLYX) Shares Gap Down to $6.54

flyExclusive, Inc. (NYSE:FLYX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $6.54, but opened at $6.17. flyExclusive shares last traded at $6.70, with a volume of 2,981 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, BTIG Research downgraded shares of flyExclusive from a “buy” rating to a “neutral” rating in a report on Thursday, February 22nd.

flyExclusive Price Performance

The business’s 50 day moving average price is $7.22. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.50 and a current ratio of 0.53.

Insiders Place Their Bets

In other flyExclusive news, Director Gregg Hymowitz purchased 25,000 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $1,000.00 per share, with a total value of $25,000,000.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $25,000,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 57.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLYX. PNC Financial Services Group Inc. bought a new stake in flyExclusive during the 4th quarter valued at $55,000. MBL Wealth LLC bought a new position in shares of flyExclusive during the fourth quarter valued at about $106,000. Finally, CastleKnight Management LP purchased a new stake in shares of flyExclusive during the fourth quarter worth about $553,000. Institutional investors own 12.99% of the company’s stock.

flyExclusive Company Profile

flyExclusive, Inc owns and operates private jets in North America, the Caribbean, Central America, South America, and Europe. The company also offers jet charter services; ownership and leaseback programs for aircraft buyers; and aircraft maintenance, repair, interior, and paint services. In addition, it provides jet cards, and interiors and exterior refurbishment services.