Fly-E Group, Inc. (NASDAQ:FLYE) Short Interest Up 364.6% in July

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 significant 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. Currently,8.0% of the shares of the stock are sold short. Based on an average trading volume of 393,800 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 393,800 shares, the days-to-cover ratio is currently 1.2 days. Currently,8.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Fly-E Group to a "sell" rating in a research note on Saturday.

Fly-E Group Price Performance

FLYE opened at $5.98 on Friday. Fly-E Group has a 52 week low of $1.65 and a 52 week high of $8.30. The business's fifty day simple moving average is $4.23 and its 200 day simple moving average is $3.00.

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.

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