FlexShopper (NASDAQ:FPAY) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of FlexShopper (NASDAQ:FPAY) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $2.50 price objective on the financial services provider’s stock.

Separately, Maxim Group upped their target price on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

FlexShopper Stock Down 6.7 %

Shares of NASDAQ:FPAY opened at $1.54 on Tuesday. FlexShopper has a 52-week low of $0.97 and a 52-week high of $2.19. The company has a market capitalization of $33.05 million, a PE ratio of -9.06 and a beta of 1.43. The company has a debt-to-equity ratio of 19.65, a quick ratio of 7.98 and a current ratio of 7.98. The company has a fifty day moving average of $1.59 and a 200-day moving average of $1.30.

Hedge Funds Weigh In On FlexShopper

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC bought a new stake in shares of FlexShopper in the second quarter worth $58,000. Renaissance Technologies LLC raised its position in 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 during the last quarter. Finally, Waterfall Asset Management LLC acquired a new position in FlexShopper during the 3rd quarter worth about $1,678,000. 19.41% of the stock is currently owned by institutional investors and hedge funds.

About FlexShopper

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.