BingEx (NASDAQ:FLX) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded BingEx (NASDAQ:FLX) from a "hold" to a Buy, while Weiss Ratings reissued a Sell (D-), leaving the MarketBeat consensus at Hold with a $4.70 target price.
• Shares opened at $2.77 (12‑month range $2.08–$4.45); the company has a market cap of about $155 million, a P/E of 11.08, reported $0.05 EPS and $143.1 million in quarterly revenue.
• Several institutions moved into the stock recently, notably Susquehanna increasing its stake by 400% to ~6.5 million shares, while Goldman Sachs, Citadel, Marshall Wace and Jane Street also added or initiated positions.

BingEx (NASDAQ:FLX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of BingEx in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.70.

BingEx Stock Performance

Shares of FLX stock opened at $2.77 on Friday. The stock's 50 day simple moving average is $2.57 and its 200 day simple moving average is $3.02. BingEx has a twelve month low of $2.08 and a twelve month high of $4.45. The company has a market capitalization of $154.95 million, a price-to-earnings ratio of 11.08 and a beta of 0.70.

BingEx (NASDAQ:FLX - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.05 earnings per share for the quarter. BingEx had a return on equity of 20.09% and a net margin of 2.75%.The business had revenue of $143.12 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLX. Susquehanna International Group LLP increased 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 during the period. Goldman Sachs Group Inc. increased 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 during the period. Citadel Advisors LLC grew 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 worth $355,000 after purchasing an additional 50,198 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of BingEx during the 4th quarter worth approximately $157,000. Finally, Jane Street Group LLC acquired a new stake in shares of BingEx during the 2nd quarter worth approximately $40,000.

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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