BingEx Limited (NASDAQ:FLX) Sees Significant Drop in Short Interest

BingEx Limited (NASDAQ:FLX) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 74,295 shares, a drop of 45.0% from the September 15th total of 135,050 shares. Based on an average daily trading volume, of 221,652 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BingEx in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

BingEx Trading Down 4.6%

FLX traded down $0.07 on Friday, reaching $1.46. The stock had a trading volume of 222,522 shares, compared to its average volume of 202,945. BingEx has a fifty-two week low of $0.59 and a fifty-two week high of $4.45. The firm has a 50-day moving average of $1.61 and a 200-day moving average of $2.10. The company has a market capitalization of $84.59 million, a price-to-earnings ratio of -146.00 and a beta of 0.59.

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

Institutional Investors Weigh In On BingEx

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

BingEx Company Profile

BingEx Limited operates FlashEx, an on-demand delivery platform serving customers in China. The company provides direct, point-to-point delivery services that connect individuals and businesses with couriers through its technology platform.

Its services include same-day and instant delivery for items such as personal belongings, documents, retail products, food, flowers and other time-sensitive goods. BingEx also supports business customers with delivery services for commercial documents, merchandise and other operational needs.

Founded in 2014, the company has expanded its delivery network across numerous cities in China.