BingEx (NASDAQ:FLX) Upgraded to Buy at Wall Street Zen

BingEx (NASDAQ:FLX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BingEx in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.70.

BingEx Stock Up 1.3%

FLX stock opened at $3.16 on Friday. BingEx has a 52-week low of $2.01 and a 52-week high of $9.49. The firm has a market cap of $176.76 million, a P/E ratio of -316.00 and a beta of 0.87. The company’s 50-day simple moving average is $3.19 and its 200-day simple moving average is $3.24.

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

Institutional Investors Weigh In On BingEx

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

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. The company was incorporated in 2014 and is headquartered in Beijing, the People’s Republic of China.