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

Fly-E Group (NASDAQ:FLYE) issued its quarterly earnings results on Thursday. The company reported ($2.24) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $7.18 million for the quarter.

Fly-E Group Stock Up 10.2%

NASDAQ FLYE opened at $1.84 on Friday. Fly-E Group has a 52-week low of $1.62 and a 52-week high of $161.80. The business’s 50-day moving average price is $2.00 and its 200 day moving average price is $2.85. The firm has a market cap of $3.00 million, a P/E ratio of -0.16 and a beta of -0.70.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fly-E Group in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Fly-E Group has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fly-E Group stock. XTX Topco Ltd purchased a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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.

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.