BingEx (NASDAQ:FLX) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

BingEx Limited (NASDAQ:FLX) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $1.49 and traded as high as $1.55. BingEx shares last traded at $1.53, with a volume of 210,180 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BingEx in a report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, BingEx presently has a consensus rating of “Sell”.

BingEx Stock Up 4.8%

The stock has a market cap of $88.64 million, a PE ratio of -153.00 and a beta of 0.59. The business’s fifty day moving average is $1.49 and its 200 day moving average is $2.25.

BingEx (NASDAQ:FLX) last posted its quarterly earnings results on Thursday, August 20th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $138.40 million during the quarter. BingEx had a negative net margin of 0.33% and a positive return on equity of 10.13%.

Institutional Trading of BingEx

An institutional investor recently raised its position in BingEx stock. Renaissance Technologies LLC grew its position in BingEx Limited (NASDAQ:FLX) by 19.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,300 shares of the company’s stock after buying an additional 12,700 shares during the quarter. Renaissance Technologies LLC owned 0.13% of BingEx worth $205,000 at the end of the most recent quarter.

BingEx Company Profile

BingEx Limited (NASDAQ: FLX) is a China-based technology company that operates an on-demand, intra-city delivery platform under the FlashEx brand. The company connects individuals and businesses with independent couriers to facilitate time-sensitive deliveries within cities.

Its services are designed for a range of use cases, including the delivery of documents, personal items, commercial goods and other packages. BingEx also provides delivery solutions for business and enterprise customers, using technology to support order placement, courier matching, tracking and fulfillment.

Founded in 2014, BingEx primarily serves customers in China through its city-based delivery network.