Short Interest in BingEx Limited (NASDAQ:FLX) Expands By 68.8%

Key Points

• Short interest in BingEx Limited (NASDAQ:FLX) surged by 68.8% in September, growing from 1,600 shares to 2,700 shares.
• Recent analyst ratings show one has issued a Buy rating, while another has a Sell rating, resulting in a consensus rating of "Hold" with a price target of $4.70.
• BingEx shares traded down 1.8%, reaching $3.25, with a twelve-month range between $2.01 and $17.31.

BingEx Limited (NASDAQ:FLX - Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,700 shares, a growth of 68.8% from the August 31st total of 1,600 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of BingEx

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in shares of BingEx during the 2nd quarter worth about $34,000. Jane Street Group LLC acquired a new position in BingEx in the 2nd quarter valued at approximately $40,000. Finally, Millennium Management LLC acquired a new stake in shares of BingEx during the 4th quarter valued at about $335,000.

Analysts Set New Price Targets

FLX has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of BingEx in a report on Saturday, September 27th. Wall Street Zen raised shares of BingEx to a "hold" rating in a research note on Saturday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of BingEx in a report on Tuesday, June 10th. They set a "buy" rating and a $4.70 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.70.

BingEx Stock Down 1.8%

FLX stock traded down $0.06 during midday trading on Monday, hitting $3.25. 3,258 shares of the company traded hands, compared to its average volume of 46,491. BingEx has a twelve month low of $2.01 and a twelve month high of $17.31. The stock has a market capitalization of $181.86 million and a price-to-earnings ratio of -18.06. The business has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $3.13.

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

About BingEx

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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