BingEx (NASDAQ:FLX) Upgraded 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 stock analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.

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

BingEx Stock Down 0.6%

BingEx stock traded down $0.02 during mid-day trading on Friday, reaching $3.14. The company's stock had a trading volume of 26,140 shares, compared to its average volume of 56,680. The business's 50 day simple moving average is $3.02 and its 200 day simple moving average is $4.94. BingEx has a 12 month low of $2.01 and a 12 month high of $21.95.

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

Institutional Investors Weigh In On BingEx

A hedge fund recently bought a new stake in BingEx stock. Millennium Management LLC purchased a new position in BingEx Limited (NASDAQ:FLX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission.

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.