BingEx Limited (NASDAQ:FLX) Short Interest Up 44.0% in February

BingEx Limited (NASDAQ:FLX) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 116,710 shares, a growth of 44.0% from the February 12th total of 81,060 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 157,278 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 157,278 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.

BingEx Stock Performance

Shares of NASDAQ FLX traded up $0.04 during trading hours on Friday, hitting $2.26. 215,516 shares of the stock were exchanged, compared to its average volume of 211,288. The company’s fifty day simple moving average is $2.92 and its two-hundred day simple moving average is $3.16. The company has a market cap of $126.42 million, a PE ratio of -226.00 and a beta of 1.04. BingEx has a 1-year low of $2.01 and a 1-year high of $8.48.

Institutional Investors Weigh In On BingEx

A number of large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of BingEx in the 3rd quarter valued at $32,000. XTX Topco Ltd bought a new stake in shares of BingEx during the 2nd quarter worth $34,000. Jane Street Group LLC acquired a new stake in BingEx in the fourth quarter valued at about $38,000. SmartHarvest Portfolios LLC bought a new position in BingEx in the fourth quarter valued at about $39,000. Finally, Marshall Wace LLP bought a new position in BingEx in the fourth quarter valued at about $157,000.

Wall Street Analysts Forecast Growth

FLX has been the topic of several analyst reports. Wall Street Zen lowered BingEx from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BingEx in a research note 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.70.

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.