BingEx Limited (NASDAQ:FLX) Sees Significant Increase in Short Interest

BingEx Limited (NASDAQ:FLX) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 220,979 shares, an increase of 23.9% from the March 15th total of 178,341 shares. Based on an average trading volume of 158,904 shares, the short-interest ratio is presently 1.4 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On BingEx

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in BingEx in the fourth quarter worth approximately $38,000. Citadel Advisors LLC lifted its position in BingEx by 82.6% in the third 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. Susquehanna International Group LLP lifted its position in BingEx by 400.0% in the third 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. Goldman Sachs Group Inc. lifted its position in BingEx by 318.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company’s stock worth $227,000 after purchasing an additional 54,363 shares during the period. Finally, Marshall Wace LLP acquired a new stake in BingEx in the fourth quarter worth approximately $157,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLX. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a research note on Friday, March 27th. Wall Street Zen downgraded BingEx from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BingEx presently has an average rating of “Hold” and an average price target of $4.70.

BingEx Stock Up 4.0%

FLX traded up $0.10 during trading on Thursday, reaching $2.57. The stock had a trading volume of 173,875 shares, compared to its average volume of 239,728. The firm has a market capitalization of $143.77 million, a price-to-earnings ratio of 10.28 and a beta of 0.55. BingEx has a 1-year low of $2.08 and a 1-year high of $4.45. The stock has a 50 day moving average of $2.65 and a two-hundred day moving average of $3.06.

BingEx (NASDAQ:FLX) last released its earnings results on Saturday, February 14th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $143.12 million during the quarter. BingEx had a return on equity of 20.09% and a net margin of 2.75%.

BingEx Company Profile

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.