Fly-E Group (NASDAQ:FLYE) Trading 6.7% Higher – Here’s What Happened

Fly-E Group, Inc. (NASDAQ:FLYE) traded up 6.7% on Monday . The company traded as high as $2.22 and last traded at $2.22. 4,463 shares traded hands during trading, a decline of 74% from the average session volume of 17,365 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Fly-E Group Stock Up 6.7%

The firm’s 50 day simple moving average is $2.17 and its two-hundred day simple moving average is $5.97.

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 stake in Fly-E Group, Inc. (NASDAQ:FLYE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund 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 reporting period.

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.