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

Fly-E Group (NASDAQ:FLYE) posted its quarterly earnings results on Tuesday. The company reported ($1.18) earnings per share for the quarter, FiscalAI reports. The company had revenue of $2.65 million during the quarter.

Fly-E Group Trading Down 5.0%

FLYE traded down $0.11 on Tuesday, hitting $2.11. 3,688 shares of the stock traded hands, compared to its average volume of 231,275. Fly-E Group has a 52 week low of $1.68 and a 52 week high of $161.80. The business has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $5.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Trading of Fly-E Group

A hedge fund recently bought a new stake in Fly-E Group stock. XTX Topco Ltd acquired a new stake in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 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.