Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Up 1,536.3% in June

Fly-E Group, Inc. (NASDAQ:FLYE) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 95,675 shares, a growth of 1,536.3% from the May 31st total of 5,847 shares. Currently, 6.2% of the shares of the stock are short sold. Based on an average trading volume of 489,123 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Fly-E Group Price Performance

FLYE stock traded down $0.12 during mid-day trading on Friday, hitting $2.15. The stock had a trading volume of 347 shares, compared to its average volume of 193,143. Fly-E Group has a 52 week low of $1.62 and a 52 week high of $161.80. The firm has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $3.54.

Fly-E Group (NASDAQ:FLYE) last issued its quarterly earnings results on Tuesday, April 21st. The company reported ($1.18) earnings per share for the quarter. The firm had revenue of $2.65 million for the quarter.

Institutional Investors Weigh In On Fly-E Group

An institutional investor recently bought a new stake in Fly-E Group stock. Renaissance Technologies LLC bought a new stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,600 shares of the company’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned approximately 0.77% of Fly-E Group as of its most recent filing with the SEC.

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.