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

Key Points

• The short interest in Fly-E Group, Inc. (NASDAQ:FLYE) surged by 364.6% in July, reaching a total of 455,300 shares compared to 98,000 shares at the end of June.
• Currently, 8.0% of Fly-E Group's shares are sold short, with a days-to-cover ratio of 1.2 days based on the average trading volume.
• Wall Street Zen has downgraded Fly-E Group to a "sell" rating in a recent research note.

Fly-E Group, Inc. (NASDAQ:FLYE - Get Free Report) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 455,300 shares, anincreaseof364.6% from the June 30th total of 98,000 shares. Approximately8.0% of the shares of the company are short sold. Based on an average daily volume of 393,800 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 393,800 shares, the short-interest ratio is currently 1.2 days. Approximately8.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Fly-E Group to a "sell" rating in a research report on Saturday, August 2nd.

Fly-E Group Trading Up 2.6%

FLYE stock traded up $0.17 during trading on Thursday, hitting $6.78. 3,612,820 shares of the stock traded hands, compared to its average volume of 385,809. Fly-E Group has a one year low of $1.65 and a one year high of $8.30. The company has a 50 day simple moving average of $4.46 and a 200 day simple moving average of $3.06.

About Fly-E Group

Fly-E Group, Inc engages in the designing, installing, and selling of smart electric motorcycles (e-motorcycles), electric bikes, electric scooters, and related accessories under the Fly E-Bike brand in the United States and Canada. It offers e-mopeds, e-motorcycles, e-tricycles, e-bikes, and e-scooters; and traditional bikes.