flyExclusive (NYSE:FLYX) Trading Down 3.6% - Should You Sell?

Key Points

• flyExclusive shares fell 3.6% to $2.31, with trading volume down 94% compared to the average daily volume.
• The company has a market capitalization of $184.70 million and a negative P/E ratio of -1.94.
• Institutional investors hold 12.99% of flyExclusive's stock, with several hedge funds increasing their positions recently.

Shares of flyExclusive, Inc. (NYSE:FLYX - Get Free Report) were down 3.6% during mid-day trading on Tuesday . The company traded as low as $2.26 and last traded at $2.31. Approximately 975 shares were traded during trading, a decline of 94% from the average daily volume of 17,341 shares. The stock had previously closed at $2.39.

flyExclusive Stock Performance

The stock has a fifty day simple moving average of $2.54 and a 200-day simple moving average of $2.95. The stock has a market cap of $181.90 million, a P/E ratio of -1.91 and a beta of 0.13.

Institutional Investors Weigh In On flyExclusive

Several institutional investors have recently bought and sold shares of FLYX. Entrust Global Partners L L C bought a new stake in flyExclusive during the first quarter worth about $43,390,000. CastleKnight Management LP grew its stake in flyExclusive by 51.6% in the fourth quarter. CastleKnight Management LP now owns 287,118 shares of the company's stock valued at $904,000 after purchasing an additional 97,705 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of flyExclusive during the 4th quarter worth approximately $70,000. Raymond James Financial Inc. bought a new stake in shares of flyExclusive during the 4th quarter worth approximately $64,000. Finally, MBL Wealth LLC acquired a new stake in shares of flyExclusive in the 2nd quarter valued at approximately $37,000. Institutional investors own 12.99% of the company's stock.

flyExclusive Company Profile

flyExclusive, Inc, through its subsidiary, LGM Enterprises, LLC., owns and operates private jets in North America. It also offers jet charter services; and aircraft maintenance, repair, overhaul (MRO) operations, and interior and exterior refurbishment services, as well as wholesale and retail ad hoc flights, a jet club program, partnership program, fractional program, and other services.