Fly-E Group, Inc. (NASDAQ:FLYE) Shares Shorted: Short Interest Up 348.2% in September

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

Fly-E Group Price Performance

NASDAQ FLYE opened at $1.48 on Friday. The firm’s fifty day moving average price is $1.74 and its 200 day moving average price is $1.93. Fly-E Group has a 12 month low of $1.28 and a 12 month high of $22.00. The company has a market capitalization of $2.41 million, a price-to-earnings ratio of -0.18 and a beta of -0.65.

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

Institutional Investors Weigh In On Fly-E Group

An institutional investor recently bought a new position in Fly-E Group stock. Citadel Advisors LLC bought a new position in shares of Fly-E Group, Inc. (NASDAQ:FLYE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fly-E Group in a report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.