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

BingEx Limited (NASDAQ:FLX)’s stock price 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 trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BingEx in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

BingEx Stock Up 4.8%

The company has a market capitalization of $88.64 million, a price-to-earnings ratio of -153.00 and a beta of 0.59. The stock has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $2.25.

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

Institutional Inflows and Outflows

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

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.