BingEx (NASDAQ:FLX) Stock Price Up 2.3% – Here’s What Happened

BingEx Limited (NASDAQ:FLX) shares were up 2.3% during mid-day trading on Monday . The stock traded as high as $2.21 and last traded at $2.18. 164,749 shares were traded 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 Upgrades and Downgrades

Several equities analysts recently commented on FLX shares. Wall Street Zen lowered shares of BingEx from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings raised shares of BingEx from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BingEx has a consensus rating of “Sell”.

BingEx Stock Up 2.3%

The business’s 50 day moving average price is $2.31 and its 200-day moving average price is $2.65. The company has a market cap of $126.31 million, a PE ratio of 12.11 and a beta of 0.55.

Institutional Investors Weigh In On BingEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP lifted its holdings in BingEx by 400.0% in the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock worth $20,852,000 after buying an additional 5,196,683 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in BingEx by 318.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company’s stock valued at $227,000 after buying an additional 54,363 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of BingEx by 82.6% during 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. Marshall Wace LLP acquired a new stake in shares of BingEx during the fourth quarter valued at about $157,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of BingEx during the first quarter valued at about $66,000.

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.