BingEx (NASDAQ:FLX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of BingEx (NASDAQ:FLX) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BingEx in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.70.

BingEx Trading Up 1.3%

FLX opened at $3.16 on Friday. The stock’s 50 day simple moving average is $3.19 and its 200-day simple moving average is $3.24. The stock has a market cap of $176.77 million, a PE ratio of -316.00 and a beta of 0.87. BingEx has a 1 year low of $2.01 and a 1 year high of $9.49.

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

Institutional Investors Weigh In On BingEx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of BingEx during the 3rd quarter worth about $32,000. XTX Topco Ltd bought a new position in shares of BingEx in the second quarter valued at approximately $34,000. Jane Street Group LLC acquired a new position in shares of BingEx in the 2nd quarter worth approximately $40,000. Citadel Advisors LLC grew its position in BingEx by 82.6% during the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock worth $355,000 after acquiring an additional 50,198 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in BingEx by 400.0% during the 3rd 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.

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.