Short Interest in BingEx Limited (NASDAQ:FLX) Rises By 44.0%

BingEx Limited (NASDAQ:FLX) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 116,710 shares, a growth of 44.0% from the February 12th total of 81,060 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 157,278 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 157,278 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Trading of BingEx

Hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP increased 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 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 buying an additional 50,198 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. Marshall Wace LLP acquired a new stake in shares of BingEx in the 4th quarter valued at $157,000. Finally, Jane Street Group LLC acquired a new stake in shares of BingEx in the 2nd quarter valued at $40,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLX. Wall Street Zen cut shares of BingEx from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.70.

BingEx Stock Up 1.8%

Shares of NASDAQ:FLX opened at $2.26 on Friday. The firm has a market cap of $126.42 million, a P/E ratio of -226.00 and a beta of 1.04. BingEx has a 12 month low of $2.01 and a 12 month high of $8.48. The company’s 50-day moving average price is $2.92 and its two-hundred day moving average price is $3.16.

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.