BingEx (NASDAQ:FLX) Trading Down 17.2% – Should You Sell?

BingEx Limited (NASDAQ:FLX)’s stock price was down 17.2% during trading on Wednesday . The company traded as low as $1.01 and last traded at $1.01. 266,556 shares traded hands during mid-day trading, an increase of 54% from the average session volume of 173,295 shares. The stock had previously closed at $1.22.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FLX shares. Weiss Ratings restated a “sell (d)” rating on shares of BingEx in a research note on Friday, August 7th. Wall Street Zen cut BingEx from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BingEx presently has a consensus rating of “Sell”.

BingEx Stock Down 18.4%

The business has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $2.27. The stock has a market capitalization of $47.97 million, a price-to-earnings ratio of -81.10 and a beta of 0.47.

BingEx (NASDAQ:FLX) last issued its earnings results on Thursday, August 20th. The company reported $0.02 earnings per share (EPS) for the quarter. BingEx had a positive return on equity of 10.13% and a negative net margin of 0.33%.The business had revenue of $138.40 million for the quarter.

Hedge Funds Weigh In On BingEx

An institutional investor recently bought a new stake in BingEx stock. Dimensional Fund Advisors LP purchased a new stake in BingEx Limited (NASDAQ:FLX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 24,739 shares of the company’s stock, valued at approximately $66,000.

About BingEx

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.