BingEx (NASDAQ:FLX) Announces Quarterly Earnings Results

BingEx (NASDAQ:FLX) posted its earnings results on Wednesday. The company reported $0.13 EPS for the quarter, Zacks reports.

BingEx Trading Up 11.3%

BingEx stock opened at $3.25 on Thursday. The stock has a market cap of $181.81 million and a PE ratio of -18.05. The stock has a 50-day moving average price of $3.36 and a 200 day moving average price of $3.11. BingEx has a 52 week low of $2.01 and a 52 week high of $11.73.

Hedge Funds Weigh In On BingEx

Several institutional investors and hedge funds have recently modified their holdings of FLX. Susquehanna International Group LLP increased its stake in BingEx by 400.0% in the third quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock valued at $20,852,000 after purchasing an additional 5,196,683 shares during the last quarter. Citadel Advisors LLC grew its holdings in BingEx by 82.6% in the third quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock valued at $355,000 after purchasing an additional 50,198 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in BingEx in the third quarter valued at approximately $32,000. Jane Street Group LLC acquired a new position in BingEx during the second quarter worth approximately $40,000. Finally, XTX Topco Ltd acquired a new position in shares of BingEx in the 2nd quarter valued at $34,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of BingEx in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of BingEx to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.70.

BingEx Company Profile

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.