BingEx (NASDAQ:FLX) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

BingEx Limited (NASDAQ:FLX) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $1.43 and traded as low as $1.26. BingEx shares last traded at $1.40, with a volume of 240,023 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BingEx in a research report on Wednesday, November 4th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, BingEx currently has an average rating of “Sell”.

BingEx Price Performance

The company has a fifty day moving average of $1.43 and a 200 day moving average of $2.19. The firm has a market capitalization of $81.11 million, a P/E ratio of -140.00 and a beta of 0.53.

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

Institutional Investors Weigh In On BingEx

An institutional investor recently bought a new position in BingEx stock. Dimensional Fund Advisors LP bought a new stake in BingEx Limited (NASDAQ:FLX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,739 shares of the company’s stock, valued at approximately $66,000.

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.