flyExclusive (NYSE:FLYX) Trading 1.8% Higher – Time to Buy?

flyExclusive, Inc. (NYSE:FLYX) shot up 1.8% during trading on Tuesday . The company traded as high as $2.37 and last traded at $2.23. 289,271 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,180,286 shares. The stock had previously closed at $2.19.

Analysts Set New Price Targets

A number of research firms recently commented on FLYX. Lucid Cap Mkts upgraded flyExclusive to a “strong-buy” rating in a report on Monday, January 26th. UBS Group set a $7.00 price objective on flyExclusive in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, flyExclusive currently has an average rating of “Strong Buy” and a consensus price target of $7.00.

flyExclusive Stock Up 1.8%

The business has a fifty day moving average of $2.32 and a 200 day moving average of $3.07. The firm has a market cap of $210.40 million, a P/E ratio of -2.19 and a beta of 0.12.

Insider Buying and Selling

In related news, Director Peter B. Hopper acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $2.35 per share, for a total transaction of $58,750.00. Following the completion of the acquisition, the director owned 125,000 shares of the company’s stock, valued at $293,750. This trade represents a 25.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 125,000 shares of company stock valued at $304,750 in the last ninety days. Corporate insiders own 90.10% of the company’s stock.

Institutional Investors Weigh In On flyExclusive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYX. Geode Capital Management LLC increased its holdings in shares of flyExclusive by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock worth $467,000 after acquiring an additional 3,373 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of flyExclusive by 56,636.4% in the third quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after acquiring an additional 6,230 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of flyExclusive in the third quarter worth about $68,000. Axxcess Wealth Management LLC increased its holdings in shares of flyExclusive by 11.0% in the third quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock worth $186,000 after acquiring an additional 3,750 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of flyExclusive in the third quarter worth about $32,000. Institutional investors own 12.99% of the company’s stock.

flyExclusive Company Profile

flyExclusive (NYSE:FLYX) is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.