Fly-E Group, Inc. (NASDAQ:FLYE) Shares Shorted: Short Interest Up 282.7% in September

Fly-E Group, Inc. (NASDAQ:FLYE) was the recipient of a large growth in short interest in the month of 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 trading volume of 169,022 shares, the short-interest ratio is currently 0.3 days. Approximately 2.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Trading of Fly-E Group

A hedge fund recently bought a new stake in Fly-E Group stock. Citadel Advisors LLC purchased a new stake in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

Fly-E Group Stock Up 0.4%

Shares of NASDAQ FLYE traded up $0.01 during trading on Friday, hitting $2.33. The company had a trading volume of 2,904,461 shares, compared to its average volume of 6,751,317. The firm has a market capitalization of $3.80 million, a price-to-earnings ratio of -0.29 and a beta of -0.70. The stock has a fifty day simple moving average of $1.69 and a two-hundred day simple moving average of $1.90. Fly-E Group has a fifty-two week low of $1.22 and a fifty-two week high of $22.00.

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

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.