BingEx (NASDAQ:FLX) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of BingEx Limited (NASDAQ:FLX) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $1.43 and traded as low as $1.26. BingEx shares last traded at $1.40, with a volume of 240,023 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BingEx in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, BingEx presently has an average rating of “Sell”.

BingEx Stock Performance

The stock has a market capitalization of $81.11 million, a P/E ratio of -140.00 and a beta of 0.53. The business has a fifty day simple moving average of $1.43 and a 200-day simple moving average of $2.19.

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

Institutional Inflows and Outflows

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

BingEx Company Profile

BingEx Limited (NASDAQ: FLX) is a China-based technology company that operates an on-demand, intra-city delivery platform under the FlashEx brand. The company connects individuals and businesses with independent couriers to facilitate time-sensitive deliveries within cities. Its services are designed for a range of use cases, including the delivery of documents, personal items, commercial goods and other packages. BingEx also provides delivery solutions for business and enterprise customers, using technology to support order placement, courier matching, tracking and fulfillment.