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

BingEx Limited (NASDAQ:FLX) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 113,270 shares, an increase of 42.8% from the January 15th total of 79,325 shares. Based on an average trading volume of 224,272 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 224,272 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

FLX has been the topic of a number of research reports. Wall Street Zen raised BingEx from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BingEx in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.70.

Hedge Funds Weigh In On BingEx

A number of institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in BingEx in the second quarter valued at $34,000. Jane Street Group LLC bought a new stake in shares of BingEx in the 2nd quarter valued at about $40,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of BingEx in the third quarter valued at about $32,000. Citadel Advisors LLC raised its position in shares of BingEx by 82.6% during the third quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock worth $355,000 after acquiring an additional 50,198 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in shares of 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 acquiring an additional 5,196,683 shares during the period.

BingEx Price Performance

NASDAQ:FLX remained flat at $2.81 during trading hours on Monday. The company had a trading volume of 89,070 shares, compared to its average volume of 388,075. BingEx has a 1-year low of $2.01 and a 1-year high of $9.49. The firm has a fifty day moving average of $3.21 and a 200 day moving average of $3.26. The firm has a market capitalization of $157.19 million, a P/E ratio of -281.00 and a beta of 0.86.

BingEx (NASDAQ:FLX) last released its earnings results on Wednesday, November 19th. The company reported $0.13 earnings per share for the quarter. BingEx had a negative return on equity of 1.13% and a negative net margin of 5.04%.The firm had revenue of $141.23 million during the 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.