Fly-E Group, Inc. (NASDAQ:FLYE – Get Free Report) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 28,612 shares, a decline of 19.0% from the February 26th total of 35,324 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average trading volume of 14,142 shares, the days-to-cover ratio is currently 2.0 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd bought a new position in Fly-E Group, Inc. (NASDAQ:FLYE – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
Analyst Upgrades and Downgrades
FLYE has been the topic of several research reports. Wall Street Zen upgraded Fly-E Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research report on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fly-E Group presently has a consensus rating of “Sell”.
Fly-E Group Price Performance
Shares of FLYE traded up $0.15 during trading hours on Tuesday, hitting $2.10. The company had a trading volume of 15,321 shares, compared to its average volume of 279,800. The firm has a fifty day moving average price of $3.17 and a 200-day moving average price of $7.38. Fly-E Group has a 52-week low of $1.68 and a 52-week high of $161.80.
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.
Further Reading
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