BingEx (NASDAQ:FLX) Stock Price Up 2.3% – Still a Buy?
by Tristan Rich · The Markets DailyBingEx Limited (NASDAQ:FLX – Get Free Report)’s share price traded up 2.3% during trading on Monday . The company traded as high as $2.21 and last traded at $2.18. Approximately 164,749 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 203,471 shares. The stock had previously closed at $2.13.
Analyst Ratings Changes
FLX has been the subject of a number of analyst reports. Weiss Ratings raised BingEx from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of BingEx from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BingEx has a consensus rating of “Sell”.
Read Our Latest Analysis on FLX
BingEx Price Performance
The company has a market capitalization of $125.73 million, a P/E ratio of 12.06 and a beta of 0.55. The company has a 50 day moving average of $2.30 and a 200-day moving average of $2.64.
Hedge Funds Weigh In On BingEx
Several hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP raised its holdings in shares of BingEx by 400.0% during the third 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 boosted its holdings 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 acquiring an additional 50,198 shares in the last quarter. Renaissance Technologies LLC increased its position in BingEx by 19.7% during the 1st quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $205,000 after purchasing an additional 12,700 shares during the period. Goldman Sachs Group Inc. increased its position in BingEx by 318.4% during the 4th 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 period. Finally, Marshall Wace LLP bought a new position in BingEx in the 4th quarter worth $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.