BingEx (NASDAQ:FLX) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of BingEx (NASDAQ:FLX) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $4.70 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 40.09% from the stock’s previous close.

BingEx Price Performance

Shares of BingEx stock traded up $0.24 during trading on Tuesday, hitting $3.36. 118,800 shares of the company were exchanged, compared to its average volume of 48,337. BingEx has a 1-year low of $2.01 and a 1-year high of $21.95. The firm’s fifty day moving average price is $2.39 and its 200 day moving average price is $6.22.

BingEx (NASDAQ:FLX) last announced its quarterly earnings data on Thursday, May 22nd. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $132.40 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BingEx stock. Millennium Management LLC acquired a new stake in BingEx Limited (NASDAQ:FLX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,405 shares of the company’s stock, valued at approximately $335,000. Millennium Management LLC owned approximately 0.06% of BingEx at the end of the most recent reporting period.

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.