BingEx's (FLX) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• BingEx's stock received a "sell (e+)" rating from Weiss Ratings, indicating ongoing negative sentiment from analysts regarding the company's performance.
• The stock currently has a consensus rating of "Hold" with an average price target set at $4.70, despite one analyst rating it as a Buy and another as a Sell.
• BingEx's shares remain steady at $3.43, showing a significant range over the past year with a low of $2.01 and a high of $15.69.

BingEx (NASDAQ:FLX - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on FLX. Wall Street Zen upgraded shares of BingEx to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of BingEx in a report on Tuesday, June 10th. They set a "buy" rating and a $4.70 target price for the company. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, BingEx currently has a consensus rating of "Hold" and an average price target of $4.70.

BingEx Price Performance

Shares of NASDAQ:FLX remained flat at $3.43 on Wednesday. The stock had a trading volume of 85,551 shares, compared to its average volume of 47,828. BingEx has a one year low of $2.01 and a one year high of $15.69. The firm has a fifty day simple moving average of $3.19 and a 200 day simple moving average of $3.10. The stock has a market cap of $191.87 million and a PE ratio of -19.05.

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

Institutional Trading of BingEx

Several hedge funds have recently added to or reduced their stakes in FLX. XTX Topco Ltd purchased a new stake in BingEx during the second quarter valued at about $34,000. Jane Street Group LLC bought a new position in shares of BingEx during the 2nd quarter valued at $40,000. Finally, Millennium Management LLC bought a new position in shares of BingEx in the 4th quarter worth approximately $335,000.

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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