BingEx (NASDAQ:FLX) Downgraded by Wall Street Zen to “Hold”

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

Separately, Weiss Ratings raised shares of BingEx from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.70.

BingEx Trading Down 2.5%

FLX stock opened at $2.34 on Friday. The company has a market cap of $135.58 million, a P/E ratio of 13.00 and a beta of 0.69. BingEx has a 52 week low of $2.08 and a 52 week high of $4.45. The company’s 50-day moving average price is $2.57 and its 200 day moving average price is $2.87.

BingEx (NASDAQ:FLX) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.05 EPS for the quarter. BingEx had a net margin of 1.89% and a return on equity of 13.02%. The firm had revenue of $143.12 million for the quarter.

Institutional Trading of BingEx

Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP lifted its holdings in shares of BingEx by 400.0% in the third 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 lifted its holdings in shares of 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 purchasing an additional 50,198 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of BingEx by 19.7% in the first 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of BingEx by 318.4% in the fourth 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 in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of BingEx in the fourth 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.