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

Key Points

• BingEx has been upgraded to a "hold" rating by analysts at Wall Street Zen, indicating a neutral outlook for investors.
• Deutsche Bank initiated coverage on BingEx with a "buy" rating and set a target price of $4.70 for the stock.
• BingEx reported earnings of $0.07 per share and revenues of $132.40 million for the last quarter, with shares trading down 0.6% recently.

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

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of BingEx in a research note on Tuesday, June 10th. They set a "buy" rating and a $4.70 target price on the stock.

BingEx Trading Down 0.6%

Shares of NASDAQ:FLX opened at $3.17 on Friday. The firm's 50 day moving average price is $2.98 and its 200-day moving average price is $5.03. BingEx has a twelve month low of $2.01 and a twelve month high of $21.95.

BingEx (NASDAQ:FLX - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported $0.07 EPS for the quarter. The firm had revenue of $132.40 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BingEx stock. Millennium Management LLC acquired a new position in shares of BingEx Limited (NASDAQ:FLX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,405 shares of the company's stock, valued at approximately $335,000. Millennium Management LLC owned 0.06% of BingEx as of its most recent SEC filing.

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.

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