Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Up 181.1% in February

Fly-E Group, Inc. (NASDAQ:FLYE) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 66,151 shares, an increase of 181.1% from the January 29th total of 23,533 shares. Based on an average daily volume of 1,543,215 shares, the days-to-cover ratio is presently 0.0 days. Approximately 4.9% of the shares of the stock are short sold. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily volume of 1,543,215 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Fly-E Group

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

Analyst Ratings Changes

Several brokerages recently issued reports on FLYE. Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a research report on Monday, December 29th. Wall Street Zen raised Fly-E Group from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Fly-E Group Stock Performance

Shares of FLYE traded down $0.08 during midday trading on Friday, reaching $2.04. The stock had a trading volume of 18,675 shares, compared to its average volume of 811,061. The firm has a 50 day simple moving average of $5.28 and a 200-day simple moving average of $12.17. Fly-E Group has a one year low of $2.02 and a one year high of $161.80.

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.