BingEx (NASDAQ:FLX) Upgraded by Wall Street Zen to Hold Rating

BingEx (NASDAQ:FLX) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.70.

BingEx Trading Up 11.7%

Shares of FLX opened at $3.63 on Friday. The firm has a market cap of $203.06 million, a PE ratio of -363.00 and a beta of 0.90. BingEx has a 12 month low of $2.01 and a 12 month high of $11.73. The stock has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.18.

BingEx (NASDAQ:FLX) last announced its earnings results on Wednesday, November 19th. The company reported $0.13 earnings per share for the quarter. BingEx had a negative return on equity of 1.13% and a negative net margin of 5.04%.The firm had revenue of $141.23 million for the quarter.

Hedge Funds Weigh In On BingEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in BingEx during the 2nd quarter worth about $34,000. Jane Street Group LLC acquired a new position in shares of BingEx in the second quarter valued at about $40,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of BingEx in the third quarter worth about $32,000. Citadel Advisors LLC lifted its holdings in shares of BingEx by 82.6% during the third quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock worth $355,000 after purchasing an additional 50,198 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in shares of BingEx by 400.0% during the third quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock worth $20,852,000 after purchasing an additional 5,196,683 shares during the period.

BingEx Company Profile

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.