Fly-E Group, Inc. (NASDAQ:FLYE) Stock Short Interest Report for September

Fly-E Group, Inc. (NASDAQ:FLYE) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 43,940 shares, a growth of 282.7% from the September 15th total of 11,482 shares. Based on an average daily volume of 169,022 shares, the short-interest ratio is presently 0.3 days. Currently, 2.8% of the shares of the stock are sold short.

Fly-E Group Stock Down 12.0%

Shares of NASDAQ:FLYE traded down $0.28 during trading on Monday, hitting $2.05. 269,680 shares of the company’s stock were exchanged, compared to its average volume of 6,895,801. Fly-E Group has a 1-year low of $1.22 and a 1-year high of $22.00. The firm has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.90.

Fly-E Group (NASDAQ:FLYE) last posted its quarterly earnings results on Tuesday, September 1st. The company reported ($2.41) earnings per share for the quarter. The company had revenue of $2.75 million for the quarter.

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 stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,702 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned 0.90% of Fly-E Group as of its most recent SEC filing.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Fly-E Group has a consensus rating of “Sell”.

About Fly-E Group

Fly-E Group, Inc is an electric mobility company that sells electric bicycles, electric scooters and electric motorcycles, along with related parts and accessories. Its product offerings include items such as batteries, chargers, helmets, locks and other equipment used by electric-vehicle riders.

The company also provides services that support its products, including vehicle maintenance, repairs and battery-related services. Fly-E Group markets its products through retail locations and online channels, serving customers primarily in the United States.

Founded in 2015, the company operates under the Fly E-Bike brand and has built its business around urban electric transportation.