BingEx Limited (NASDAQ:FLX) Shares Shorted: Short Interest Down 45.0% in September

BingEx Limited (NASDAQ:FLX) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 74,295 shares, a drop of 45.0% from the September 15th total of 135,050 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 221,652 shares, the short-interest ratio is presently 0.3 days.

BingEx Price Performance

Shares of BingEx stock traded down $0.07 on Friday, reaching $1.46. 222,522 shares of the company were exchanged, compared to its average volume of 201,362. The stock’s 50 day moving average price is $1.62 and its 200-day moving average price is $2.10. BingEx has a 1-year low of $0.59 and a 1-year high of $4.45. The company has a market cap of $84.59 million, a P/E ratio of -146.00 and a beta of 0.59.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BingEx stock. Dimensional Fund Advisors LP bought a new stake in BingEx Limited (NASDAQ:FLX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,739 shares of the company’s stock, valued at approximately $66,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BingEx in a report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

BingEx Company Profile

BingEx Limited operates FlashEx, an on-demand delivery platform serving customers in China. The company provides direct, point-to-point delivery services that connect individuals and businesses with couriers through its technology platform.

Its services include same-day and instant delivery for items such as personal belongings, documents, retail products, food, flowers and other time-sensitive goods. BingEx also supports business customers with delivery services for commercial documents, merchandise and other operational needs.

Founded in 2014, the company has expanded its delivery network across numerous cities in China.