BingEx Limited (NASDAQ:FLX) Sees Significant Growth in Short Interest

BingEx Limited (NASDAQ:FLX) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 82,071 shares, an increase of 120.0% from the December 15th total of 37,310 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 142,294 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 142,294 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the company’s stock are sold short.

BingEx Stock Performance

FLX traded up $0.00 during trading hours on Friday, reaching $3.18. The company’s stock had a trading volume of 87,676 shares, compared to its average volume of 146,793. BingEx has a 52 week low of $2.01 and a 52 week high of $9.49. The company’s 50-day moving average is $3.20 and its 200-day moving average is $3.25. The firm has a market cap of $177.95 million, a PE ratio of -317.50 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLX. Weiss Ratings reiterated a “sell (d-)” rating on shares of BingEx in a research note on Monday, December 29th. Wall Street Zen upgraded shares of BingEx to a “hold” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, BingEx presently has a consensus rating of “Hold” and a consensus price target of $4.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP boosted its stake in shares of BingEx by 400.0% in the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock valued at $20,852,000 after purchasing an additional 5,196,683 shares in the last quarter. Citadel Advisors LLC boosted its position in BingEx by 82.6% in the third quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock valued at $355,000 after buying an additional 50,198 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of BingEx during the second quarter worth $40,000. XTX Topco Ltd acquired a new position in shares of BingEx during the second quarter worth $34,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of BingEx during the 3rd quarter valued at $32,000.

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.