Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Update

Fly-E Group, Inc. (NASDAQ:FLYE) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 38,170 shares, a decrease of 81.4% from the December 31st total of 205,658 shares. Based on an average daily trading volume, of 39,643 shares, the days-to-cover ratio is presently 1.0 days. Currently, 2.8% of the company’s shares are short sold. Currently, 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 39,643 shares, the days-to-cover ratio is presently 1.0 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) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Fly-E Group Trading Up 2.9%

NASDAQ:FLYE traded up $0.18 on Wednesday, hitting $6.13. The stock had a trading volume of 2,994 shares, compared to its average volume of 30,167. Fly-E Group has a 1 year low of $3.83 and a 1 year high of $161.80. The firm’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $28.68.

Fly-E Group (NASDAQ:FLYE) last issued its quarterly earnings results on Thursday, December 18th. The company reported ($2.18) earnings per share for the quarter. The company had revenue of $3.91 million for the quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on FLYE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fly-E Group in a report on Monday, December 29th. Wall Street Zen upgraded shares of Fly-E Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Fly-E Group Company Profile

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.