Fly-E Group, Inc. (NASDAQ:FLYE) Stock Short Interest Climbs 348.2%

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 11,482 shares, an increase of 348.2% from the August 31st total of 2,562 shares. Based on an average trading volume of 8,517,834 shares, the short-interest ratio is currently 0.0 days. Approximately 0.7% of the company’s shares are short sold.

Fly-E Group Stock Performance

Shares of FLYE stock opened at $1.48 on Friday. The stock has a market capitalization of $2.41 million, a P/E ratio of -0.18 and a beta of -0.65. The company has a 50 day moving average price of $1.74 and a 200 day moving average price of $1.93. Fly-E Group has a fifty-two week low of $1.28 and a fifty-two week high of $22.00.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fly-E Group stock. Citadel Advisors LLC purchased a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the 2nd quarter, according to the company in its most recent 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 at the end of the most recent reporting period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research note on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Fly-E Group currently has an average rating of “Sell”.

Fly-E Group Company Profile

Fly-E Group, Inc is an electric mobility company that sells and services electric bicycles, electric scooters, electric motorcycles and related products. Its offerings include replacement batteries, chargers, parts and accessories, supported by repair and maintenance services.

The company operates under the Fly E-Bike brand and primarily serves customers in the New York metropolitan area through its retail locations and service operations. Its business is focused on providing personal transportation products for urban commuters, delivery workers and other micromobility users.

Fly-E Group was established in 2015 and is headquartered in Brooklyn, New York.