Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Update

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 205,658 shares, a growth of 434.1% from the December 15th total of 38,509 shares. Approximately 15.3% of the company’s shares are short sold. Based on an average daily volume of 416,612 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 416,612 shares, the short-interest ratio is presently 0.5 days. Approximately 15.3% of the company’s shares are short sold.

Fly-E Group Trading Down 4.3%

Shares of NASDAQ:FLYE opened at $7.58 on Thursday. The business’s 50-day simple moving average is $6.62 and its 200 day simple moving average is $33.96. Fly-E Group has a one year low of $3.83 and a one year high of $161.80.

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

Institutional Investors Weigh In On Fly-E Group

A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd acquired a new position in Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 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.

Analyst Upgrades and Downgrades

FLYE has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a report on Monday, December 29th. Wall Street Zen raised shares of Fly-E Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

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.