Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Grows By 99.4%

FlexShopper, Inc. (NASDAQ:FPAYGet Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 35,100 shares, a growth of 99.4% from the September 30th total of 17,600 shares. Based on an average daily volume of 51,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of FlexShopper in a research note on Wednesday, October 2nd.

Check Out Our Latest Analysis on FPAY

Insiders Place Their Bets

In related news, Director Howard Dvorkin acquired 26,756 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $1.06 per share, with a total value of $28,361.36. Following the completion of the purchase, the director now directly owns 4,476,802 shares in the company, valued at approximately $4,745,410.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 58,148 shares of company stock valued at $64,830. 36.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Heron Bay Capital Management bought a new stake in shares of FlexShopper in the first quarter valued at about $43,000. Insigneo Advisory Services LLC bought a new stake in FlexShopper in the 2nd quarter valued at about $58,000. Finally, Renaissance Technologies LLC grew its position in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 50,847 shares in the last quarter. Institutional investors own 19.41% of the company’s stock.

FlexShopper Stock Performance

Shares of FPAY traded up $0.11 during trading hours on Friday, hitting $1.57. The company had a trading volume of 303,564 shares, compared to its average volume of 53,185. The firm has a market cap of $34.15 million, a price-to-earnings ratio of -4.91 and a beta of 1.35. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. The business has a fifty day moving average of $1.15 and a 200-day moving average of $1.14. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95.

FlexShopper (NASDAQ:FPAYGet Free Report) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. FlexShopper had a negative net margin of 0.41% and a positive return on equity of 0.77%. The firm had revenue of $31.76 million for the quarter, compared to analysts’ expectations of $31.00 million. Equities analysts anticipate that FlexShopper will post -0.12 EPS for the current fiscal year.

FlexShopper Company Profile

(Get Free Report)

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.

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