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

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, BingEx has a consensus rating of “Hold” and a consensus target price of $4.70.

BingEx Stock Performance

Shares of BingEx stock opened at $2.57 on Friday. BingEx has a 1 year low of $2.01 and a 1 year high of $9.20. The firm’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $3.22. The firm has a market cap of $143.77 million, a PE ratio of -257.00 and a beta of 1.04.

Hedge Funds Weigh In On BingEx

A number of hedge funds and other institutional investors have recently bought and sold shares of FLX. Schonfeld Strategic Advisors LLC bought a new position in shares of BingEx during the third quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in BingEx during the 2nd quarter valued at approximately $34,000. Jane Street Group LLC bought a new position in BingEx during the 4th quarter worth $38,000. SmartHarvest Portfolios LLC bought a new position in BingEx during the 4th quarter worth $39,000. Finally, Marshall Wace LLP acquired a new stake in BingEx in the fourth 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.