Fly-E Group (NASDAQ:FLYE) Announces Earnings Results

Fly-E Group (NASDAQ:FLYE) issued its quarterly earnings data on Thursday. The company reported ($2.18) EPS for the quarter, Zacks reports. The business had revenue of $3.91 million during the quarter.

Fly-E Group Price Performance

NASDAQ FLYE opened at $6.73 on Friday. The business has a fifty day moving average price of $8.55 and a 200 day moving average price of $43.10. Fly-E Group has a one year low of $3.83 and a one year high of $166.00.

Hedge Funds Weigh In On Fly-E Group

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

Analyst Ratings Changes

A number of research firms recently issued reports on FLYE. Weiss Ratings reissued a “sell (d-)” rating on shares of Fly-E Group in a research note on Friday, October 31st. Wall Street Zen raised shares of Fly-E Group from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Fly-E Group

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.