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

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

Fly-E Group Trading Up 9.1%

FLYE opened at $2.40 on Thursday. The stock has a market capitalization of $3.91 million, a PE ratio of -0.30 and a beta of -0.65. Fly-E Group has a 1-year low of $1.36 and a 1-year high of $22.00. The firm has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $1.98.

Institutional Trading of Fly-E Group

Several hedge funds have recently modified their holdings of FLYE. Citadel Advisors LLC acquired a new stake in shares of Fly-E Group in the second quarter valued at approximately $31,000. Renaissance Technologies LLC acquired a new position in Fly-E Group during the 1st quarter worth $26,000. Finally, XTX Topco Ltd acquired a new position in Fly-E Group during the 2nd quarter worth $31,000.

Analyst Upgrades and Downgrades

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