BingEx (NASDAQ:FLX) Releases Earnings Results

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

BingEx Trading Down 6.7%

BingEx stock opened at $2.92 on Wednesday. The firm has a market cap of $163.34 million and a PE ratio of -16.22. BingEx has a 12 month low of $2.01 and a 12 month high of $11.73. The stock’s 50 day simple moving average is $3.36 and its two-hundred day simple moving average is $3.11.

Institutional Trading of BingEx

Hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in BingEx during the third quarter valued at $32,000. XTX Topco Ltd acquired a new position in shares of BingEx in the second quarter worth about $34,000. Jane Street Group LLC purchased a new stake in shares of BingEx during the 2nd quarter worth about $40,000. Citadel Advisors LLC boosted its stake in shares of BingEx by 82.6% during the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock worth $355,000 after acquiring an additional 50,198 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position in shares of BingEx by 400.0% during the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock valued at $20,852,000 after acquiring an additional 5,196,683 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BingEx in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of BingEx to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, 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.