BingEx (NASDAQ:FLX) Releases Earnings Results

BingEx (NASDAQ:FLX) posted its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, FiscalAI reports. BingEx had a return on equity of 13.02% and a net margin of 1.89%.The business had revenue of $138.40 million during the quarter.

BingEx Trading Down 3.8%

Shares of NASDAQ:FLX opened at $1.90 on Thursday. The firm’s 50 day moving average is $2.14 and its two-hundred day moving average is $2.45. The firm has a market capitalization of $110.09 million, a P/E ratio of 10.56 and a beta of 0.49. BingEx has a 52 week low of $1.89 and a 52 week high of $4.45.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of BingEx in a research report on Friday, August 7th. Wall Street Zen lowered BingEx from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Trading of BingEx

Several large investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC bought a new stake in BingEx during the 3rd quarter valued at $32,000. XTX Topco Ltd bought a new position in shares of BingEx in the second quarter worth $34,000. Jane Street Group LLC acquired a new position in shares of BingEx during the fourth quarter valued at $38,000. SmartHarvest Portfolios LLC acquired a new position in shares of BingEx during the fourth quarter valued at $39,000. Finally, Renaissance Technologies LLC raised its stake in shares of BingEx by 19.7% during the first quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $205,000 after purchasing an additional 12,700 shares in the last quarter.

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.