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

BingEx Limited (NASDAQ:FLX) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 220,979 shares, a growth of 23.9% from the March 15th total of 178,341 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 158,904 shares, the short-interest ratio is currently 1.4 days.

BingEx Stock Performance

Shares of NASDAQ FLX traded up $0.10 during trading on Thursday, hitting $2.57. The company had a trading volume of 173,875 shares, compared to its average volume of 239,728. The company has a market cap of $143.77 million, a P/E ratio of 10.28 and a beta of 0.55. BingEx has a 52 week low of $2.08 and a 52 week high of $4.45. The business’s 50-day moving average is $2.65 and its 200 day moving average is $3.06.

BingEx (NASDAQ:FLX) last announced its earnings results on Saturday, February 14th. The company reported $0.05 earnings per share (EPS) for the quarter. BingEx had a net margin of 2.75% and a return on equity of 20.09%. The company had revenue of $143.12 million for the quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLX. Wall Street Zen cut BingEx from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BingEx in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, BingEx presently has an average rating of “Hold” and an average price target of $4.70.

Institutional Investors Weigh In On BingEx

A number of institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC acquired a new stake in BingEx during the 3rd quarter worth about $32,000. XTX Topco Ltd purchased a new position in BingEx during the 2nd quarter valued at about $34,000. Jane Street Group LLC purchased a new position in BingEx during the 4th quarter valued at about $38,000. SmartHarvest Portfolios LLC purchased a new position in BingEx during the 4th quarter valued at about $39,000. Finally, Marshall Wace LLP purchased a new position in BingEx during the 4th quarter valued at about $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.