Fly-E Group, Inc. (NASDAQ:FLYE – Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 35,324 shares, a decrease of 46.6% from the February 12th total of 66,151 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 22,959 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 22,959 shares, the short-interest ratio is currently 1.5 days. Currently, 2.6% of the shares of the stock are sold short.
Analysts Set New Price Targets
A number of equities analysts have issued reports on FLYE shares. Wall Street Zen upgraded shares of Fly-E Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.
Read Our Latest Report on FLYE
Fly-E Group Stock Up 1.0%
Institutional Trading of Fly-E Group
A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd bought a new stake in Fly-E Group, Inc. (NASDAQ:FLYE – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.19% of Fly-E Group at the end of the most recent quarter.
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.
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