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

Fly-E Group (NASDAQ:FLYE) released its earnings results on Tuesday. The company reported ($2.41) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.75 million during the quarter.

Fly-E Group Trading Up 61.8%

FLYE opened at $2.20 on Wednesday. Fly-E Group has a twelve month low of $1.36 and a twelve month high of $22.00. The firm has a market capitalization of $3.59 million, a PE ratio of -0.19 and a beta of -0.61. The firm’s 50-day moving average price is $1.85 and its 200 day moving average price is $1.99.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Institutional Trading of Fly-E Group

A number of hedge funds have recently bought and sold shares of FLYE. XTX Topco Ltd purchased a new position in Fly-E Group in the 2nd quarter worth approximately $31,000. Renaissance Technologies LLC purchased a new stake in shares of Fly-E Group in the first quarter valued at approximately $26,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Fly-E Group in the second quarter valued at approximately $31,000.

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.