flyExclusive (NYSE:FLYX) Shares Down 0.5% – Here’s What Happened

Shares of flyExclusive, Inc. (NYSE:FLYX) dropped 0.5% during mid-day trading on Thursday . The company traded as low as $2.14 and last traded at $2.19. Approximately 159,954 shares changed hands during trading, a decline of 96% from the average daily volume of 4,198,586 shares. The stock had previously closed at $2.20.

Wall Street Analysts Forecast Growth

FLYX has been the topic of several research analyst reports. UBS Group set a $7.00 price target on shares of flyExclusive in a research report on Monday, January 26th. Lucid Cap Mkts raised flyExclusive to a “strong-buy” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, flyExclusive has a consensus rating of “Strong Buy” and a consensus price target of $7.00.

flyExclusive Stock Down 0.5%

The stock has a market cap of $176.71 million, a price-to-earnings ratio of -2.13 and a beta of 0.20. The company’s 50-day moving average is $3.44 and its 200-day moving average is $3.69.

Institutional Investors Weigh In On flyExclusive

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of flyExclusive by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock worth $467,000 after buying an additional 3,373 shares during the period. Axxcess Wealth Management LLC lifted its stake in flyExclusive by 11.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock valued at $186,000 after acquiring an additional 3,750 shares in the last quarter. JPMorgan Chase & Co. boosted its position in flyExclusive by 56,636.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after acquiring an additional 6,230 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of flyExclusive during the 3rd quarter worth approximately $32,000. Finally, MBL Wealth LLC grew its stake in shares of flyExclusive by 46.9% during the 3rd quarter. MBL Wealth LLC now owns 28,200 shares of the company’s stock worth $139,000 after acquiring an additional 9,000 shares in the last quarter. 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.