BingEx (NASDAQ:FLX) Rating Lowered to Hold at Wall Street Zen

BingEx (NASDAQ:FLX) was downgraded by research analysts at Wall Street Zen from a “buy” rating 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 report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, BingEx has an average rating of “Hold” and a consensus target price of $4.70.

BingEx Stock Performance

BingEx stock opened at $2.57 on Friday. The firm has a market cap of $143.76 million, a price-to-earnings ratio of -257.00 and a beta of 0.87. BingEx has a 1 year low of $2.01 and a 1 year high of $9.20. The firm’s 50 day moving average price is $3.08 and its two-hundred day moving average price is $3.22.

Institutional Trading of BingEx

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP boosted its holdings in shares of BingEx by 400.0% during the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock valued at $20,852,000 after acquiring an additional 5,196,683 shares in the last quarter. Citadel Advisors LLC increased its holdings in BingEx by 82.6% in the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock worth $355,000 after purchasing an additional 50,198 shares in the last quarter. Goldman Sachs Group Inc. raised its position in BingEx by 318.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company’s stock valued at $227,000 after purchasing an additional 54,363 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of BingEx during the fourth quarter valued at about $157,000. Finally, Jane Street Group LLC bought a new stake in shares of BingEx during the second quarter worth about $40,000.

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.