Fly-E Group Inc. (NASDAQ: FLYE) has experienced a decline in its stock price by -10.03 compared to its previous closing price of 1.04. However, the company has seen a fall of -85.33% in its stock price over the last five trading days. investorplace.com reported 2024-07-03 that The initial public offering activity in the U.S. hit a two-year high in the second quarter of 2024. During the quarter, there were 39 IPOs with $8.9 billion being raised.
Is It Worth Investing in Fly-E Group Inc. (NASDAQ: FLYE) Right Now?
The public float for FLYE is 7.52M, and currently, short sellers hold a 2.89% ratio of that floaft. The average trading volume of FLYE on July 29, 2024 was 1.93M shares.
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FLYE’s Market Performance
The volatility ratio for the week is 123.87%, and the volatility levels for the past 30 days are at 38.71% for Fly-E Group Inc. The simple moving average for the past 20 days is -81.87% for FLYE’s stock, with a -81.02% simple moving average for the past 200 days.
FLYE Trading at -81.02% from the 50-Day Moving Average
After a stumble in the market that brought FLYE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -87.72% of loss for the given period.
Volatility was left at 38.71%, however, over the last 30 days, the volatility rate increased by 123.87%, as shares sank -82.52% for the moving average over the last 20 days.
During the last 5 trading sessions, FLYE fell by -85.37%, in comparison to the 20-day moving average, which settled at $4.9419. In addition, Fly-E Group Inc. saw -80.42% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for FLYE
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.
Conclusion
In a nutshell, Fly-E Group Inc. (FLYE) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
