Fly-E Group, Inc. (NASDAQ:FLYE) Sees Significant Growth in Short Interest

Fly-E Group, Inc. (NASDAQ:FLYE) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 282,852 shares, an increase of 543.7% from the September 30th total of 43,940 shares. Currently, 18.2% of the company’s shares are short sold. Based on an average daily volume of 15,838,775 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fly-E Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Fly-E Group stock. Citadel Advisors LLC bought a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,702 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned about 0.90% of Fly-E Group as of its most recent SEC filing.

Fly-E Group Stock Up 1.1%

Shares of NASDAQ FLYE traded up $0.02 during trading on Wednesday, reaching $1.83. The company had a trading volume of 39,021 shares, compared to its average volume of 1,408,541. The stock has a market cap of $2.98 million, a P/E ratio of -0.23 and a beta of -0.70. The company’s fifty day moving average price is $1.86 and its 200-day moving average price is $2.43. Fly-E Group has a 12 month low of $1.22 and a 12 month high of $22.00.

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

Fly-E Group Company Profile

Fly-E Group, Inc is an electric mobility company that sells electric bicycles, scooters, motorcycles and related products. Its offerings include batteries, chargers, replacement parts and other accessories designed for electric two-wheelers.

The company markets its products under the FLY E-BIKE brand and serves customers through physical retail locations and online sales channels. Its operations are primarily focused on the U.S. market, with a presence in New York City and sales to customers in other areas through e-commerce.

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