flyExclusive (NYSE:FLYX) Upgraded by Lucid Cap Mkts to Strong-Buy Rating

flyExclusive (NYSE:FLYX) was upgraded by investment analysts at Lucid Cap Mkts to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Separately, UBS Group set a $7.00 price target on shares of flyExclusive in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of $7.00.

flyExclusive Price Performance

FLYX stock opened at $3.05 on Monday. flyExclusive has a 1-year low of $1.90 and a 1-year high of $8.88. The business has a 50 day simple moving average of $3.68 and a two-hundred day simple moving average of $3.67. The company has a market capitalization of $245.69 million, a price-to-earnings ratio of -2.90 and a beta of 0.21.

Institutional Investors Weigh In On flyExclusive

Institutional investors have recently modified their holdings of the stock. MBL Wealth LLC purchased a new stake in flyExclusive during the 2nd quarter valued at $37,000. Axxcess Wealth Management LLC raised its position in flyExclusive by 126.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 34,000 shares of the company’s stock worth $66,000 after purchasing an additional 18,960 shares during the period. JPMorgan Chase & Co. raised its position in flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock worth $31,000 after purchasing an additional 6,230 shares during the period. Citadel Advisors LLC bought a new stake in flyExclusive in the third quarter worth about $68,000. Finally, Kera Capital Partners Inc. purchased a new position in shares of flyExclusive during the third quarter valued at approximately $173,000. 12.99% of the stock is owned by institutional investors.

About flyExclusive

flyExclusive (NYSE:FLYX) is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.