Short Interest in Payoneer Global Inc. (NASDAQ:PAYO) Drops By 18.0%

Payoneer Global Inc. (NASDAQ:PAYO) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 11,214,537 shares, a decline of 18.0% from the February 26th total of 13,670,906 shares. Based on an average trading volume of 4,694,280 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.3% of the company’s shares are sold short.

Payoneer Global Price Performance

PAYO traded up $0.08 on Wednesday, reaching $4.91. 772,547 shares of the company traded hands, compared to its average volume of 4,432,757. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.60 and a beta of 1.09. The stock’s 50 day moving average price is $5.25 and its 200-day moving average price is $5.62. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.66.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Thursday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The company had revenue of $274.69 million during the quarter, compared to analysts’ expectations of $282.79 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. Osaic Holdings Inc. raised its stake in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares in the last quarter. CWM LLC grew its stake in shares of Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after buying an additional 6,016 shares in the last quarter. Vident Advisory LLC acquired a new position in Payoneer Global in the fourth quarter worth approximately $58,000. Empowered Funds LLC bought a new position in Payoneer Global during the fourth quarter valued at approximately $63,000. Finally, Quarry LP raised its position in Payoneer Global by 9,273.2% during the third quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after acquiring an additional 10,386 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PAYO. Bank of America began coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective for the company. Benchmark reduced their target price on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lowered their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Finally, Needham & Company LLC dropped their price target on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.75.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.