Short Interest in BingEx Limited (NASDAQ:FLX) Rises By 44.0%

Key Points

• Short interest jumped 44% in February to 116,710 shares, roughly 0.2% of shares outstanding, with a days-to-cover of about 0.7 based on average daily volume.
• The stock carries a consensus "Hold" rating (one Buy, one Sell) and a consensus target of $4.70, with Weiss Ratings at "sell (d-)" and Wall Street Zen recently downgrading the stock to Hold.
• Large institutions are active: Susquehanna holds about 6,495,883 shares (~$20.85M) and Citadel increased its stake to 111,004 shares; FLX trades near $2.26 with a market cap of $126.42M and a 1-year range of $2.01–$8.48.

BingEx Limited (NASDAQ:FLX - Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 116,710 shares, a growth of 44.0% from the February 12th total of 81,060 shares. Based on an average trading volume of 157,278 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 157,278 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FLX shares. Weiss Ratings reissued a "sell (d-)" rating on shares of BingEx in a report on Monday, December 29th. Wall Street Zen downgraded shares of BingEx from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.70.

Institutional Trading of BingEx

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in BingEx during the second quarter worth $34,000. Jane Street Group LLC bought a new stake in shares of BingEx in the 2nd quarter worth about $40,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of BingEx in the 3rd quarter worth about $32,000. Citadel Advisors LLC increased its position in shares of BingEx by 82.6% during the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company's stock worth $355,000 after purchasing an additional 50,198 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in BingEx by 400.0% during the 3rd quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company's stock valued at $20,852,000 after purchasing an additional 5,196,683 shares during the last quarter.

BingEx Trading Up 1.8%

FLX stock opened at $2.26 on Friday. BingEx has a 1-year low of $2.01 and a 1-year high of $8.48. The business's 50 day moving average is $2.92 and its 200-day moving average is $3.16. The firm has a market cap of $126.42 million, a P/E ratio of -226.00 and a beta of 1.04.

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. The company was incorporated in 2014 and is headquartered in Beijing, the People's Republic of China.

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