Short Interest in BingEx Limited (NASDAQ:FLX) Rises By 344.4%

Key Points

• Short interest in BingEx Limited (NASDAQ:FLX) rose by 344.4% in September, increasing from 2,700 shares to 12,000 shares.
• Analyst ratings for BingEx include a "hold" rating from Wall Street Zen and a "sell" rating from Weiss Ratings, with an average target price of $4.70.
• XTX Topco Ltd acquired 10,831 shares of BingEx during the second quarter, indicating potential institutional interest in the stock.

BingEx Limited (NASDAQ:FLX - Get Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 12,000 shares, a growth of 344.4% from the September 15th total of 2,700 shares. Based on an average daily volume of 55,200 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 55,200 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of BingEx to a "hold" rating in a research note on Saturday, July 26th. Weiss Ratings restated a "sell (e+)" rating on shares of BingEx in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, BingEx presently has an average rating of "Hold" and an average target price of $4.70.

Institutional Trading of BingEx

A hedge fund recently bought a new stake in BingEx stock. XTX Topco Ltd purchased a new position in shares of BingEx Limited (NASDAQ:FLX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,831 shares of the company's stock, valued at approximately $34,000.

BingEx Trading Up 0.6%

Shares of FLX stock traded up $0.02 during trading hours on Friday, hitting $3.44. The company's stock had a trading volume of 53,552 shares, compared to its average volume of 55,799. The company has a 50 day moving average of $3.25 and a 200 day moving average of $2.92. The stock has a market cap of $192.43 million and a PE ratio of -19.11. BingEx has a 12-month low of $2.01 and a 12-month high of $15.69.

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