flyExclusive (NYSE:FLYX) Shares Down 6% – Should You Sell?

flyExclusive, Inc. (NYSE:FLYX)’s share price traded down 6% during mid-day trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.23. 83,796 shares traded hands during mid-day trading, an increase of 327% from the average session volume of 19,636 shares. The stock had previously closed at $4.50.

flyExclusive Price Performance

The company has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.94. The stock has a market cap of $338.95 million, a PE ratio of -3.85 and a beta of 0.13.

Hedge Funds Weigh In On flyExclusive

Hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in flyExclusive in the 4th quarter worth about $70,000. Raymond James Financial Inc. purchased a new position in shares of flyExclusive during the fourth quarter valued at approximately $64,000. CastleKnight Management LP raised its holdings in shares of flyExclusive by 51.6% during the fourth quarter. CastleKnight Management LP now owns 287,118 shares of the company’s stock valued at $904,000 after purchasing an additional 97,705 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of flyExclusive during the first quarter valued at approximately $47,000. Finally, MBL Wealth LLC purchased a new position in shares of flyExclusive during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 12.99% of the company’s stock.

flyExclusive Company Profile

flyExclusive, Inc, through its subsidiary, LGM Enterprises, LLC., owns and operates private jets in North America. It also offers jet charter services; and aircraft maintenance, repair, overhaul (MRO) operations, and interior and exterior refurbishment services, as well as wholesale and retail ad hoc flights, a jet club program, partnership program, fractional program, and other services.