FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 17,600 shares, a decrease of 10.7% from the September 15th total of 19,700 shares. Based on an average trading volume of 38,000 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the shares of the stock are sold short.
FlexShopper Price Performance
Shares of FPAY stock traded down $0.04 on Thursday, reaching $1.22. 109,219 shares of the company were exchanged, compared to its average volume of 49,564. FlexShopper has a 1 year low of $0.94 and a 1 year high of $1.95. The company has a market cap of $26.54 million, a price-to-earnings ratio of -3.92 and a beta of 1.35. The company has a debt-to-equity ratio of 28.90, a quick ratio of 15.78 and a current ratio of 15.78. The business has a 50-day moving average price of $1.11 and a 200 day moving average price of $1.14.
FlexShopper (NASDAQ:FPAY – Get Free Report) last released its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $31.76 million for the quarter, compared to analyst estimates of $31.00 million. Equities research analysts forecast that FlexShopper will post -0.12 earnings per share for the current fiscal year.
Insiders Place Their Bets
Institutional Trading of FlexShopper
Large investors have recently added to or reduced their stakes in the stock. Heron Bay Capital Management purchased a new stake in FlexShopper in the 1st quarter valued at $43,000. Insigneo Advisory Services LLC purchased a new stake in FlexShopper in the 2nd quarter valued at $58,000. Finally, Renaissance Technologies LLC grew its holdings in FlexShopper by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after buying an additional 50,847 shares in the last quarter. 19.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of FlexShopper in a research note on Wednesday, October 2nd.
Read Our Latest Report on FPAY
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.
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