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

BingEx (NASDAQ:FLX) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, BingEx presently has a consensus rating of “Hold” and an average price target of $4.70.

BingEx Price Performance

Shares of FLX stock opened at $3.63 on Friday. The firm has a 50-day moving average of $3.37 and a 200-day moving average of $3.18. The company has a market cap of $203.06 million, a P/E ratio of -363.00 and a beta of 0.90. BingEx has a one year low of $2.01 and a one year high of $11.73.

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

Institutional Trading of BingEx

Large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP raised its position in BingEx by 400.0% in the third quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock worth $20,852,000 after acquiring an additional 5,196,683 shares during the period. Citadel Advisors LLC grew its position in shares of BingEx by 82.6% during the 3rd 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 during the period. Jane Street Group LLC purchased a new stake in shares of BingEx during the 2nd quarter worth approximately $40,000. XTX Topco Ltd purchased a new stake in shares of BingEx during the 2nd quarter worth approximately $34,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of BingEx in the 3rd quarter worth approximately $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.