Fly-E Group, Inc. (NASDAQ:FLYE) Sees Significant Growth in Short Interest

Fly-E Group, Inc. (NASDAQ:FLYE) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 66,151 shares, a growth of 181.1% from the January 29th total of 23,533 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,543,215 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 1,543,215 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.9% of the company’s shares are sold short.

Institutional Trading of Fly-E Group

A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd acquired a new stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,204 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.19% of Fly-E Group at the end of the most recent reporting period.

Analyst Ratings Changes

Several research firms recently issued reports on FLYE. Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research report 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Fly-E Group Stock Down 0.5%

Shares of FLYE stock opened at $2.18 on Thursday. Fly-E Group has a fifty-two week low of $2.02 and a fifty-two week high of $161.80. The firm’s 50 day moving average price is $5.47 and its two-hundred day moving average price is $13.21.

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.