BingEx Limited (NASDAQ:FLX) Sees Large Increase in Short Interest

BingEx Limited (NASDAQ:FLX) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 113,270 shares, an increase of 42.8% from the January 15th total of 79,325 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 224,272 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 224,272 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FLX shares. Wall Street Zen raised BingEx from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.70.

BingEx Price Performance

Shares of NASDAQ FLX opened at $2.81 on Tuesday. BingEx has a 1-year low of $2.01 and a 1-year high of $9.49. The company has a market capitalization of $157.19 million, a price-to-earnings ratio of -281.00 and a beta of 0.86. The business has a 50-day moving average of $3.19 and a 200-day moving average of $3.26.

BingEx (NASDAQ:FLX) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.13 EPS 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.

Institutional Investors Weigh In On BingEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of BingEx during the third quarter valued at about $32,000. XTX Topco Ltd purchased a new stake in BingEx during the 2nd quarter worth approximately $34,000. Jane Street Group LLC acquired a new position in shares of BingEx in the 4th quarter valued at approximately $38,000. SmartHarvest Portfolios LLC purchased a new position in shares of BingEx during the 4th quarter valued at approximately $39,000. Finally, Marshall Wace LLP purchased a new position in shares of BingEx during the 4th quarter valued at approximately $157,000.

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.