BingEx Limited (NASDAQ:FLX) Stock Short Interest Declines 45.0%

BingEx Limited (NASDAQ:FLX) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 74,295 shares, a decline of 45.0% from the September 15th total of 135,050 shares. Based on an average daily volume of 221,652 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

BingEx Stock Performance

FLX traded up $0.02 during trading on Thursday, reaching $1.50. The stock had a trading volume of 198,353 shares, compared to its average volume of 200,998. The stock has a market cap of $87.20 million, a PE ratio of -150.50 and a beta of 0.59. BingEx has a one year low of $0.59 and a one year high of $4.45. The business has a 50-day moving average of $1.63 and a 200-day moving average of $2.11.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BingEx stock. Renaissance Technologies LLC grew its stake in BingEx Limited (NASDAQ:FLX) by 19.7% in the 1st quarter, according to its most recent 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 quarter. Renaissance Technologies LLC owned about 0.13% of BingEx worth $205,000 at the end of the most recent quarter.

About BingEx

BingEx Limited operates FlashEx, an on-demand delivery platform serving customers in China. The company provides direct, point-to-point delivery services that connect individuals and businesses with couriers through its technology platform.

Its services include same-day and instant delivery for items such as personal belongings, documents, retail products, food, flowers and other time-sensitive goods. BingEx also supports business customers with delivery services for commercial documents, merchandise and other operational needs.

Founded in 2014, the company has expanded its delivery network across numerous cities in China.