BingEx Limited (NASDAQ:FLX) Short Interest Update

BingEx Limited (NASDAQ:FLX) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 178,341 shares, an increase of 52.8% from the February 26th total of 116,710 shares. Based on an average daily trading volume, of 260,593 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On BingEx

Large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in shares of BingEx in the fourth quarter worth approximately $157,000. Jane Street Group LLC acquired a new position in BingEx in the 4th quarter valued at approximately $38,000. SmartHarvest Portfolios LLC acquired a new position in BingEx in the 4th quarter valued at approximately $39,000. Goldman Sachs Group Inc. lifted its position in BingEx by 318.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company’s stock worth $227,000 after buying an additional 54,363 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in BingEx by 400.0% in the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock worth $20,852,000 after buying an additional 5,196,683 shares in the last quarter.

Wall Street Analysts Forecast Growth

FLX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a report on Monday, December 29th. Wall Street Zen cut shares of BingEx from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.70.

BingEx Stock Performance

NASDAQ:FLX traded down $0.03 during trading hours on Friday, hitting $2.69. 138,025 shares of the company’s stock traded hands, compared to its average volume of 220,456. The stock’s fifty day moving average price is $2.82 and its two-hundred day moving average price is $3.12. The firm has a market cap of $150.48 million, a P/E ratio of 10.76 and a beta of 1.04. BingEx has a twelve month low of $2.01 and a twelve month high of $7.40.

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. The company was incorporated in 2014 and is headquartered in Beijing, the People’s Republic of China.