FlexShopper (NASDAQ:FPAY) Given New $4.00 Price Target at Maxim Group

FlexShopper (NASDAQ:FPAY) had its target price increased by Maxim Group from $2.00 to $4.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Maxim Group’s target price would suggest a potential upside of 168.46% from the company’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 target price on shares of FlexShopper in a research note on Friday.

FlexShopper Stock Performance

FPAY traded up $0.04 during trading on Friday, hitting $1.49. The stock had a trading volume of 62,910 shares, compared to its average volume of 63,269. The firm has a market cap of $31.98 million, a PE ratio of -6.41 and a beta of 1.33. The company has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $1.16. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. FlexShopper has a 12 month low of $0.97 and a 12 month high of $1.95.

Institutional Investors Weigh In On FlexShopper

A number of hedge funds and other institutional investors have recently made changes to their positions in FPAY. Waterfall Asset Management LLC bought a new position in FlexShopper during the third quarter worth $1,678,000. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper during the 2nd quarter valued at $58,000. Renaissance Technologies LLC raised its stake in shares of FlexShopper by 30.0% in the second 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 during the period. Finally, Heron Bay Capital Management purchased a new stake in shares of FlexShopper during the first quarter worth $43,000. 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.