BingEx Limited (NASDAQ:FLX) Short Interest Update

Key Points

• Short interest in BingEx rose by 52.8% to 178,341 shares as of March 13, implying a short-interest ratio of about 0.7 days and roughly 0.3% of outstanding shares shorted.
• Major institutional investors increased stakes recently, notably Susquehanna boosting to 6.5M shares (a 400% increase), while Goldman Sachs, Citadel, Marshall Wace and Jane Street also added or initiated positions.
• Analysts are mixed with a consensus rating of Hold and a consensus price target of $4.70, following recent downgrades and a reaffirmed sell from Weiss Ratings.

BingEx Limited (NASDAQ:FLX - Get Free Report) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 178,341 shares, a growth of 52.8% from the February 26th total of 116,710 shares. Based on an average daily trading volume, of 260,593 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLX. Susquehanna International Group LLP boosted its holdings in shares of 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 purchasing an additional 5,196,683 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of BingEx by 318.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company's stock valued at $227,000 after purchasing an additional 54,363 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of BingEx by 82.6% during the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company's stock valued at $355,000 after buying an additional 50,198 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of BingEx during the 4th quarter valued at about $157,000. Finally, Jane Street Group LLC bought a new stake in BingEx in the 2nd quarter worth approximately $40,000.

Analysts Set New Price Targets

Several equities analysts recently commented on FLX shares. Wall Street Zen cut BingEx from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BingEx in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.70.

BingEx Price Performance

Shares of NASDAQ:FLX opened at $2.69 on Friday. The company's fifty day moving average price is $2.82 and its 200-day moving average price is $3.12. The firm has a market capitalization of $150.48 million, a price-to-earnings ratio of 10.76 and a beta of 1.04. BingEx has a one year low of $2.01 and a one year high of $7.40.

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.

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