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

FlexShopper, Inc. (NASDAQ:FPAY) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 35,100 shares, an increase of 99.4% from the September 30th total of 17,600 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 0.7 days.

Insider Transactions at FlexShopper

In other FlexShopper news, Director Howard Dvorkin bought 26,756 shares of FlexShopper stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $1.06 per share, with a total value of $28,361.36. Following the acquisition, the director now owns 4,476,802 shares in the company, valued at $4,745,410.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 58,148 shares of company stock valued at $64,830. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 50,847 shares during the last quarter. Insigneo Advisory Services LLC acquired a new position in shares of FlexShopper during the second quarter worth $58,000. Finally, Heron Bay Capital Management bought a new stake in shares of FlexShopper in the first quarter worth $43,000. Institutional investors own 19.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

FlexShopper Price Performance

Shares of NASDAQ:FPAY traded up $0.11 during trading on Friday, hitting $1.57. 303,564 shares of the company were exchanged, compared to its average volume of 53,185. FlexShopper has a 1-year low of $0.94 and a 1-year high of $1.95. The company has a market capitalization of $34.15 million, a P/E 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’s 50 day moving average is $1.15 and its 200-day moving average is $1.14.

FlexShopper (NASDAQ:FPAY) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. The business had revenue of $31.76 million during the quarter, compared to analysts’ expectations of $31.00 million. Equities analysts forecast that FlexShopper will post -0.12 earnings per share for the current year.

FlexShopper Company Profile

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.