BingEx (NASDAQ:FLX) Stock Price Down 6.2% - Should You Sell?

Key Points

• BingEx Limited's stock (NASDAQ:FLX) fell by 6.2%, trading between $3.23 and $3.35, with volume down 7% from its average.
• Analysts are divided on FLX, with one giving a Buy rating and another a Sell rating, resulting in an average rating of "Hold" and a target price of $4.70.
• The company reported $0.08 EPS and $143.02 million in revenue for the last quarter, alongside a market cap of $187.40 million.

BingEx Limited (NASDAQ:FLX - Get Free Report)'s share price was down 6.2% during mid-day trading on Friday . The stock traded as low as $3.23 and last traded at $3.35. Approximately 51,305 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 55,239 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several research analysts have recently issued reports on FLX shares. Wall Street Zen raised BingEx to a "hold" rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of BingEx in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.70.

BingEx Stock Performance

The company has a market capitalization of $187.40 million and a P/E ratio of -18.61. The stock has a 50 day moving average price of $3.22 and a 200 day moving average price of $3.04.

BingEx (NASDAQ:FLX - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported $0.08 EPS for the quarter. The business had revenue of $143.02 million for the quarter.

Institutional Investors Weigh In On BingEx

An institutional investor recently bought a new position in BingEx stock. Jane Street Group LLC acquired a new position in BingEx Limited (NASDAQ:FLX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,542 shares of the company's stock, valued at approximately $40,000.

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.

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