flyExclusive (NYSE:FLYX) Trading Down 5.9% - Here's What Happened

Key Points

• flyExclusive shares fell 5.9% to $2.22 on Tuesday, trading 103,892 shares—about 96% below the average session volume.
• Analysts are bullish, with an average rating of "Strong Buy" and an average price target of $7.00 (UBS set a $7 target and Lucid Cap Mkts issued a "strong-buy").
• Insiders have been buying stock (Director Peter B. Hopper purchased 25,000 shares on March 13) and now own about 90.10% of the company, while institutional investors hold roughly 12.99%.

flyExclusive, Inc. (NYSE:FLYX - Get Free Report)'s stock price traded down 5.9% on Tuesday . The stock traded as low as $2.22 and last traded at $2.22. 103,892 shares were traded during trading, a decline of 96% from the average session volume of 2,359,537 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

FLYX has been the topic of several recent research reports. UBS Group set a $7.00 target price on shares of flyExclusive in a research note on Monday, January 26th. Lucid Cap Mkts raised shares of flyExclusive to a "strong-buy" rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average price target of $7.00.

flyExclusive Price Performance

The stock has a market cap of $209.46 million, a price-to-earnings ratio of -2.18 and a beta of 0.19. The firm has a 50 day simple moving average of $2.38 and a two-hundred day simple moving average of $3.26.

Insider Activity at flyExclusive

In other news, Director Peter B. Hopper purchased 25,000 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $58,750.00. Following the transaction, the director directly owned 125,000 shares of the company's stock, valued at approximately $293,750. The trade was a 25.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 125,000 shares of company stock valued at $304,750. Corporate insiders own 90.10% of the company's stock.

Institutional Investors Weigh In On flyExclusive

Several large investors have recently bought and sold shares of the company. MBL Wealth LLC raised its holdings in flyExclusive by 46.9% in the third quarter. MBL Wealth LLC now owns 28,200 shares of the company's stock worth $139,000 after purchasing an additional 9,000 shares during the period. Kera Capital Partners Inc. acquired a new position in shares of flyExclusive in the 3rd quarter valued at $173,000. Axxcess Wealth Management LLC increased its position in shares of flyExclusive by 11.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company's stock valued at $186,000 after buying an additional 3,750 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company's stock valued at $31,000 after buying an additional 6,230 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in flyExclusive during the 3rd quarter worth $68,000. Institutional investors own 12.99% of the company's stock.

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.

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