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

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a large decrease in short interest in 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. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 22,959 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 22,959 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fly-E Group

A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd purchased a new stake in shares of Fly-E Group, Inc. (NASDAQ:FLYE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.19% of Fly-E Group as of its most recent filing with the Securities & Exchange Commission.

Fly-E Group Stock Performance

Shares of NASDAQ:FLYE traded up $0.01 during midday trading on Thursday, hitting $1.96. 6,038 shares of the stock were exchanged, compared to its average volume of 352,751. The business’s 50-day moving average price is $4.61 and its 200 day moving average price is $8.57. Fly-E Group has a 12 month low of $1.80 and a 12 month high of $161.80.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FLYE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Fly-E Group from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Fly-E Group presently has an average 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.