flyExclusive (NYSE:FLYX) Shares Down 0.5% – Here’s What Happened

flyExclusive, Inc. (NYSE:FLYX) shares fell 0.5% during trading on Thursday . The stock traded as low as $2.14 and last traded at $2.19. 159,954 shares changed hands during trading, a decline of 96% from the average session volume of 4,198,586 shares. The stock had previously closed at $2.20.

Analysts Set New Price Targets

Several equities research analysts have commented on FLYX shares. Lucid Cap Mkts raised shares of flyExclusive to a “strong-buy” rating in a research report on Monday, January 26th. UBS Group set a $7.00 target price on flyExclusive in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, flyExclusive has a consensus rating of “Strong Buy” and a consensus target price of $7.00.

flyExclusive Trading Down 0.5%

The firm has a market cap of $176.71 million, a price-to-earnings ratio of -2.13 and a beta of 0.20. The firm’s 50 day simple moving average is $3.44 and its two-hundred day simple moving average is $3.69.

Hedge Funds Weigh In On flyExclusive

Institutional investors have recently modified their holdings of the business. MBL Wealth LLC lifted its stake in shares of flyExclusive by 46.9% in the 3rd quarter. MBL Wealth LLC now owns 28,200 shares of the company’s stock valued at $139,000 after acquiring an additional 9,000 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in flyExclusive in the 3rd quarter worth about $173,000. New York State Common Retirement Fund bought a new position in flyExclusive in the third quarter valued at about $32,000. JPMorgan Chase & Co. boosted its stake in shares of flyExclusive by 56,636.4% during the third quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock valued at $31,000 after purchasing an additional 6,230 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of flyExclusive by 11.0% during the third quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock worth $186,000 after purchasing an additional 3,750 shares during the last quarter. Institutional investors and hedge funds 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.