Short Interest in BingEx Limited (NASDAQ:FLX) Rises By 52.8%

BingEx Limited (NASDAQ:FLX) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 178,341 shares, a growth of 52.8% from the February 26th total of 116,710 shares. Based on an average daily volume of 260,593 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on FLX. Wall Street Zen downgraded BingEx from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.70.

BingEx Price Performance

Shares of FLX stock opened at $2.69 on Monday. The business has a fifty day moving average of $2.82 and a 200 day moving average of $3.12. BingEx has a 1 year low of $2.01 and a 1 year high of $7.40. The firm has a market capitalization of $150.48 million, a price-to-earnings ratio of 10.76 and a beta of 1.04.

Institutional Investors Weigh In On BingEx

A number of large investors have recently bought and sold shares of FLX. Schonfeld Strategic Advisors LLC acquired a new stake in shares of BingEx during the 3rd quarter worth approximately $32,000. XTX Topco Ltd purchased a new stake in BingEx during the second quarter worth $34,000. Jane Street Group LLC purchased a new stake in BingEx during the fourth quarter worth $38,000. SmartHarvest Portfolios LLC acquired a new stake in BingEx during the fourth quarter valued at $39,000. Finally, Marshall Wace LLP acquired a new stake in BingEx during the fourth quarter valued at $157,000.

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