BingEx (NASDAQ:FLX) Trading Down 6.5% – What’s Next?

Shares of BingEx Limited (NASDAQ:FLX) were down 6.5% on Wednesday . The stock traded as low as $8.66 and last traded at $8.61. Approximately 6,589 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 46,382 shares. The stock had previously closed at $9.20.

BingEx Price Performance

The stock’s 50 day simple moving average is $8.52.

BingEx (NASDAQ:FLX) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.06) EPS for the quarter. The company had revenue of $140.96 million for the quarter.

Hedge Funds Weigh In On BingEx

A hedge fund recently bought a new stake in BingEx stock. Millennium Management LLC acquired a new stake in BingEx Limited (NASDAQ:FLX) in the fourth quarter, according to its most recent filing with the SEC. The fund 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 quarter.

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.