Short Interest in Fly-E Group, Inc. (NASDAQ:FLYE) Drops By 37.4%

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 5,909 shares, a decline of 37.4% from the April 30th total of 9,440 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 7,483 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Fly-E Group

An institutional investor recently bought a new position in Fly-E Group stock. Renaissance Technologies LLC acquired a new stake in Fly-E Group, Inc. (NASDAQ:FLYE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,600 shares of the company’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned 0.77% of Fly-E Group at the end of the most recent reporting period.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Fly-E Group currently has an average rating of “Sell”.

Fly-E Group Price Performance

Shares of NASDAQ FLYE opened at $1.81 on Thursday. The business’s 50 day moving average price is $2.01 and its two-hundred day moving average price is $4.01. Fly-E Group has a twelve month low of $1.65 and a twelve month high of $161.80.

Fly-E Group (NASDAQ:FLYE) last released its quarterly earnings data on Tuesday, April 21st. The company reported ($1.18) earnings per share (EPS) for the quarter. The firm had revenue of $2.65 million during the quarter.

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.