Fly-E Group (NASDAQ:FLYE) Trading Down 6.1% – Here’s Why

Fly-E Group, Inc. (NASDAQ:FLYE) fell 6.1% on Thursday . The stock traded as low as $0.80 and last traded at $0.83. 390,030 shares were traded during trading, a decline of 60% from the average session volume of 984,653 shares. The stock had previously closed at $0.88.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Fly-E Group to a “sell” rating in a research report on Saturday, August 2nd.

Fly-E Group Stock Down 6.1%

The stock’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $2.91.

Fly-E Group (NASDAQ:FLYE) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.30) earnings per share for the quarter. The firm had revenue of $5.33 million for the quarter.

Institutional Investors Weigh In On Fly-E Group

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd acquired a new position in Fly-E Group, Inc. (NASDAQ:FLYE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned approximately 0.19% of Fly-E Group at the end of the most recent quarter.

Fly-E Group Company Profile

Fly-E Group, Inc engages in the designing, installing, and selling of smart electric motorcycles (e-motorcycles), electric bikes, electric scooters, and related accessories under the Fly E-Bike brand in the United States and Canada. It offers e-mopeds, e-motorcycles, e-tricycles, e-bikes, and e-scooters; and traditional bikes.