flyExclusive (NYSE:FLYX) Shares Down 3% – Time to Sell?

flyExclusive, Inc. (NYSE:FLYX) shares traded down 3% on Wednesday . The stock traded as low as $2.49 and last traded at $2.56. 563,801 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,913,319 shares. The stock had previously closed at $2.64.

flyExclusive Price Performance

The company has a market capitalization of $241.54 million, a P/E ratio of -2.88 and a beta of 0.12. The company’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $2.91.

Insider Buying and Selling at flyExclusive

In related news, Director Peter B. Hopper acquired 50,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were bought at an average cost of $2.38 per share, with a total value of $119,000.00. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at $238,000. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought 125,000 shares of company stock valued at $304,750 over the last 90 days. 90.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On flyExclusive

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of flyExclusive by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock valued at $467,000 after purchasing an additional 3,373 shares during the period. JPMorgan Chase & Co. raised its position in shares of flyExclusive by 56,636.4% in 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 during the period. Citadel Advisors LLC bought a new position in shares of flyExclusive in the third quarter valued at about $68,000. Axxcess Wealth Management LLC raised its position in shares of flyExclusive by 11.0% in the third quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock valued at $186,000 after purchasing an additional 3,750 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of flyExclusive in the third quarter valued at about $32,000. 12.99% of the stock is owned by institutional investors.

flyExclusive Company Profile

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.