BingEx (NASDAQ:FLX) Shares Down 0.6% - Here's Why

Key Points

• BingEx Limited's stock price dropped 0.6% to $3.17, with a significant decline in trading volume to 25,288 shares, compared to an average of 59,652 shares.
• Analysts have given mixed ratings on BingEx, with Deutsche Bank setting a target price of $4.70 and Wall Street Zen upgrading it to a "hold" rating.
• Citadel Advisors LLC acquired a new stake in BingEx, purchasing 113,507 shares valued at approximately $919,000 in the recent quarter.

BingEx Limited (NASDAQ:FLX - Get Free Report) traded down 0.6% during trading on Friday . The company traded as low as $3.16 and last traded at $3.17. 25,288 shares were traded during mid-day trading, a decline of 58% from the average session volume of 59,652 shares. The stock had previously closed at $3.19.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed 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. Wall Street Zen upgraded shares of BingEx to a "hold" rating in a report on Saturday.

BingEx Stock Up 1.4%

The business's fifty day moving average is $3.00 and its 200 day moving average is $4.95.

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

Institutional Investors Weigh In On BingEx

An institutional investor recently bought a new position in BingEx stock. Millennium Management LLC purchased a new stake in shares of 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 (SEC). The fund purchased 41,405 shares of the company's stock, valued at approximately $335,000. Millennium Management LLC owned 0.06% of BingEx at the end of the most recent reporting period.

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.