BingEx Limited (NASDAQ:FLX) Stock Short Interest Falls 36.7%

Key Points

• BingEx’s short interest fell 36.7% to 135,050 shares as of September 15, representing 0.2% of shares outstanding and just 0.7 days to cover based on average trading volume.
• The stock traded at $1.47, near the lower end of its $0.59–$4.45 52-week range, with a market capitalization of approximately $85.35 million. Its latest quarter included $138.4 million in revenue and earnings of $0.02 per share.
• Investor sentiment remains negative: Weiss Ratings reaffirmed a “sell” rating, and the sole analyst rating tracked by MarketBeat is also “Sell.” Meanwhile, Renaissance Technologies increased its stake by 19.7% during the first quarter.

BingEx Limited (NASDAQ:FLX - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 135,050 shares, a drop of 36.7% from the August 31st total of 213,455 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 183,016 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of BingEx

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

BingEx Price Performance

FLX traded up $0.02 during trading on Thursday, reaching $1.47. 22,850 shares of the stock traded hands, compared to its average volume of 200,958. The stock has a market cap of $85.35 million, a price-to-earnings ratio of -147.30 and a beta of 0.47. BingEx has a fifty-two week low of $0.59 and a fifty-two week high of $4.45. The stock's 50-day simple moving average is $1.76 and its two-hundred day simple moving average is $2.19.

BingEx (NASDAQ:FLX - Get Free Report) last issued its earnings results 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 firm had revenue of $138.40 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of BingEx in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

BingEx Company Profile

BingEx Limited NASDAQ: FLX is a technology-enabled logistics company that provides on-demand delivery services in China under the FlashEx brand. Its platform connects customers with delivery couriers and is designed to facilitate fast, flexible shipments for individuals and businesses.

The company's services primarily include intra-city and inter-city delivery. Customers can use the platform to arrange the transportation of documents, parcels, retail products and other items, while business customers can use delivery services to support their operational and fulfillment needs.

BingEx was established in 2014 and is headquartered in China.

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