BingEx (NASDAQ:FLX) Shares Up 1.9% – Should You Buy?

Shares of BingEx Limited (NASDAQ:FLX) rose 1.9% during trading on Wednesday . The stock traded as high as $3.20 and last traded at $3.18. Approximately 154,967 shares traded hands during trading, a decline of 0% from the average daily volume of 155,069 shares. The stock had previously closed at $3.12.

Analyst Ratings Changes

FLX has been the subject of several analyst reports. Wall Street Zen raised BingEx to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BingEx in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BingEx presently has an average rating of “Hold” and a consensus target price of $4.70.

BingEx Price Performance

The business has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $3.24. The company has a market capitalization of $177.89 million, a price-to-earnings ratio of -318.00 and a beta of 0.86.

BingEx (NASDAQ:FLX) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $141.23 million for 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

A number of hedge funds have recently added to or reduced their stakes in FLX. Schonfeld Strategic Advisors LLC purchased a new position in BingEx in the 3rd quarter valued at approximately $32,000. XTX Topco Ltd purchased a new position in BingEx in the second quarter valued at $34,000. Jane Street Group LLC acquired a new position in BingEx during the 2nd quarter worth $40,000. Citadel Advisors LLC increased 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 purchasing an additional 50,198 shares during the period. 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 worth $20,852,000 after purchasing an additional 5,196,683 shares during the period.

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.