BingEx (NASDAQ:FLX) Trading Down 7.9% – Here’s What Happened

BingEx Limited (NASDAQ:FLX)’s stock price was down 7.9% during trading on Monday . The stock traded as low as $3.63 and last traded at $3.63. Approximately 108,483 shares were traded during trading, an increase of 38% from the average daily volume of 78,710 shares. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLX shares. Wall Street Zen raised shares of BingEx to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of BingEx in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.70.

BingEx Trading Down 7.9%

The company has a market capitalization of $203.06 million and a price-to-earnings ratio of -20.17. The firm’s 50 day moving average price is $3.33 and its two-hundred day moving average price is $3.03.

BingEx (NASDAQ:FLX) last released its quarterly earnings data on Tuesday, August 19th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $143.02 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BingEx stock. Jane Street Group LLC purchased a new stake in BingEx Limited (NASDAQ:FLX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,542 shares of the company’s stock, valued at approximately $40,000.

About BingEx

BingEx Limited, through its subsidiaries, provides on-demand courier services under the FlashEx brand name in the People’s Republic of China. The company offers Flash-Riders as service providers. It serves individual and business customers, including local retailers, restaurants, and logistics players through its mobile platform and website.