FlexShopper (NASDAQ:FPAY) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

FlexShopper, Inc. (NASDAQ:FPAY)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.64 and traded as low as $1.62. FlexShopper shares last traded at $1.64, with a volume of 122,017 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FPAY shares. HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of FlexShopper in a research report on Tuesday, December 24th. Maxim Group increased their price objective on shares of FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

FlexShopper Stock Down 1.9 %

The company has a market capitalization of $35.19 million, a PE ratio of -9.65 and a beta of 1.40. 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 firm has a fifty day simple moving average of $1.64 and a 200-day simple moving average of $1.41.

Insider Buying and Selling at FlexShopper

In related news, CEO Harold Russell Jr. Heiser purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $1.45 per share, with a total value of $43,500.00. Following the acquisition, the chief executive officer now owns 969,874 shares in the company, valued at approximately $1,406,317.30. This trade represents a 3.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 30.20% of the stock is currently owned by insiders.

Institutional Trading of FlexShopper

A number of institutional investors have recently made changes to their positions in the stock. Traphagen Investment Advisors LLC bought a new position in FlexShopper during the 4th quarter valued at $30,000. Virtu Financial LLC bought a new position in FlexShopper during the fourth quarter valued at about $30,000. Heron Bay Capital Management acquired a new position in FlexShopper during the fourth quarter worth about $56,000. Insigneo Advisory Services LLC boosted its position in shares of FlexShopper by 33.3% during the 3rd quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in FlexShopper during the fourth quarter valued at about $109,000. 19.41% of the stock is owned by institutional investors and hedge funds.

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.