Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Update

Fly-E Group, Inc. (NASDAQ:FLYE) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 11,482 shares, a growth of 348.2% from the August 31st total of 2,562 shares. Based on an average trading volume of 8,517,834 shares, the short-interest ratio is currently 0.0 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Fly-E Group

A hedge fund recently bought a new position in Fly-E Group stock. Renaissance Technologies LLC purchased a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,600 shares of the company’s stock, valued at approximately $26,000. Renaissance Technologies LLC owned approximately 0.77% of Fly-E Group as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fly-E Group in a report on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fly-E Group presently has an average rating of “Sell”.

Fly-E Group Stock Down 4.7%

FLYE traded down $0.07 during trading on Friday, reaching $1.41. 41,538 shares of the stock traded hands, compared to its average volume of 4,376,954. The stock’s 50-day moving average is $1.73 and its 200 day moving average is $1.92. Fly-E Group has a 12 month low of $1.28 and a 12 month high of $22.00. The stock has a market capitalization of $2.30 million, a PE ratio of -0.18 and a beta of -0.65.

Fly-E Group (NASDAQ:FLYE) last posted its quarterly earnings data on Tuesday, September 1st. The company reported ($2.41) earnings per share for the quarter. The firm had revenue of $2.75 million during the quarter.

About Fly-E Group

Fly-E Group, Inc is an electric mobility company that sells and services electric bicycles, electric scooters, electric motorcycles and related products. Its offerings include replacement batteries, chargers, parts and accessories, supported by repair and maintenance services.

The company operates under the Fly E-Bike brand and primarily serves customers in the New York metropolitan area through its retail locations and service operations. Its business is focused on providing personal transportation products for urban commuters, delivery workers and other micromobility users.

Fly-E Group was established in 2015 and is headquartered in Brooklyn, New York.