Fly-E Group (NASDAQ:FLYE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Fly-E Group (NASDAQ:FLYE) from a sell rating to a hold rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fly-E Group in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Fly-E Group Price Performance

NASDAQ FLYE opened at $6.73 on Friday. The company’s 50 day moving average is $8.55 and its 200-day moving average is $43.00. Fly-E Group has a 12-month low of $3.83 and a 12-month high of $166.00.

Fly-E Group (NASDAQ:FLYE) last released its quarterly earnings data on Thursday, December 18th. The company reported ($2.18) EPS for the quarter. The company had revenue of $3.91 million for the quarter.

Institutional Investors Weigh In On Fly-E Group

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd bought a new position in Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

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.