flyExclusive (NYSE:FLYX) Trading Down 0.9% – Here’s What Happened

flyExclusive, Inc. (NYSE:FLYX)’s share price traded down 0.9% during mid-day trading on Friday . The company traded as low as $2.22 and last traded at $2.33. 94,488 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 2,894,595 shares. The stock had previously closed at $2.35.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group set a $7.00 price objective on shares of flyExclusive in a research note on Monday, January 26th. Lucid Cap Mkts raised flyExclusive to a “strong-buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, flyExclusive presently has a consensus rating of “Strong Buy” and a consensus target price of $7.00.

flyExclusive Stock Performance

The stock has a market cap of $188.00 million, a P/E ratio of -2.28 and a beta of 0.25. The firm has a 50-day moving average price of $3.01 and a 200-day moving average price of $3.61.

Hedge Funds Weigh In On flyExclusive

A number of institutional investors have recently added to or reduced their stakes in FLYX. Geode Capital Management LLC lifted its position in flyExclusive by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock valued at $467,000 after buying an additional 3,373 shares during the period. JPMorgan Chase & Co. grew its position in shares of flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after buying an additional 6,230 shares during the period. Citadel Advisors LLC purchased a new stake in shares of flyExclusive in the 3rd quarter worth about $68,000. Axxcess Wealth Management LLC grew its position in shares of flyExclusive by 11.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock worth $186,000 after buying an additional 3,750 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of flyExclusive in the 3rd quarter worth about $32,000. 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.