Short Interest in BingEx Limited (NASDAQ:FLX) Expands By 52.8%

BingEx Limited (NASDAQ:FLX) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 178,341 shares, a growth of 52.8% from the February 26th total of 116,710 shares. Based on an average trading volume of 260,593 shares, the short-interest ratio is currently 0.7 days. Approximately 0.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FLX shares. Weiss Ratings restated a “sell (d-)” rating on shares of BingEx in a report on Monday, December 29th. Wall Street Zen cut shares of BingEx from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One 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 a consensus price target of $4.70.

Institutional Trading of BingEx

Institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its holdings in shares of BingEx by 400.0% in the third quarter. Susquehanna International Group LLP now owns 6,495,883 shares of the company’s stock worth $20,852,000 after purchasing an additional 5,196,683 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in BingEx by 318.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 71,439 shares of the company’s stock valued at $227,000 after buying an additional 54,363 shares during the period. Citadel Advisors LLC boosted its position in BingEx by 82.6% during the 3rd quarter. Citadel Advisors LLC now owns 111,004 shares of the company’s stock valued at $355,000 after buying an additional 50,198 shares during the period. Marshall Wace LLP bought a new stake in BingEx in the 4th quarter worth $157,000. Finally, Jane Street Group LLC bought a new stake in BingEx in the 2nd quarter worth $40,000.

BingEx Price Performance

FLX opened at $2.69 on Friday. The stock’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $3.12. BingEx has a 1 year low of $2.01 and a 1 year high of $7.40. The firm has a market cap of $150.48 million, a price-to-earnings ratio of 10.76 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.