BingEx Limited (NASDAQ:FLX) Sees Large Decrease in Short Interest

Key Points

• BingEx’s short interest fell 45% to 74,295 shares as of September 30, representing just 0.1% of shares outstanding and a short-interest ratio of 0.3 days.
• Renaissance Technologies increased its BingEx stake by 19.7% to 77,300 shares, while the stock recently traded at $1.50 with a market capitalization of approximately $87.2 million.
• Despite reporting $138.4 million in quarterly revenue and $0.02 in EPS, BingEx retains a consensus “Sell” rating from analysts, with Weiss Ratings maintaining a “sell (d)” assessment.

BingEx Limited (NASDAQ:FLX - Get Free Report) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 74,295 shares, a decrease of 45.0% from the September 15th total of 135,050 shares. Based on an average trading volume of 221,652 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On BingEx

A hedge fund recently raised its stake in BingEx stock. Renaissance Technologies LLC increased its holdings in BingEx Limited (NASDAQ:FLX - Free Report) by 19.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,300 shares of the company's stock after acquiring an additional 12,700 shares during the period. Renaissance Technologies LLC owned about 0.13% of BingEx worth $205,000 at the end of the most recent quarter.

BingEx Trading Up 1.0%

FLX traded up $0.02 during trading on Thursday, reaching $1.50. 198,353 shares of the company's stock were exchanged, compared to its average volume of 200,998. BingEx has a one year low of $0.59 and a one year high of $4.45. The firm has a fifty day moving average price of $1.63 and a two-hundred day moving average price of $2.11. The stock has a market capitalization of $87.20 million, a PE ratio of -150.50 and a beta of 0.59.

BingEx (NASDAQ:FLX - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.02 EPS for the quarter. BingEx had a positive return on equity of 10.13% and a negative net margin of 0.33%. The company had revenue of $138.40 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d)" rating on shares of BingEx in a research report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, BingEx has a consensus rating of "Sell".

BingEx Company Profile

BingEx Limited operates FlashEx, an on-demand delivery platform serving customers in China. The company provides direct, point-to-point delivery services that connect individuals and businesses with couriers through its technology platform.

Its services include same-day and instant delivery for items such as personal belongings, documents, retail products, food, flowers and other time-sensitive goods. BingEx also supports business customers with delivery services for commercial documents, merchandise and other operational needs.

Founded in 2014, the company has expanded its delivery network across numerous cities in China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.