Short Interest in Fly-E Group, Inc. (NASDAQ:FLYE) Grows By 30.4%

Fly-E Group, Inc. (NASDAQ:FLYE) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 38,509 shares, a growth of 30.4% from the November 30th total of 29,528 shares. Based on an average daily volume of 2,018,649 shares, the days-to-cover ratio is currently 0.0 days. Approximately 5.0% of the company’s shares are short sold. Approximately 5.0% of the company’s shares are short sold. Based on an average daily volume of 2,018,649 shares, the days-to-cover ratio is currently 0.0 days.

Fly-E Group Trading Up 33.0%

Shares of NASDAQ FLYE traded up $1.74 during trading on Tuesday, reaching $7.02. The stock had a trading volume of 3,539,773 shares, compared to its average volume of 150,691. Fly-E Group has a fifty-two week low of $3.83 and a fifty-two week high of $166.00. The business’s 50-day moving average price is $7.94 and its 200-day moving average price is $40.40.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLYE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fly-E Group in a report on Friday, October 31st. Wall Street Zen raised shares of Fly-E Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd bought a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned approximately 0.19% of Fly-E Group at the end of the most recent reporting period.

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.